Commodities and VAT - Guide on the different types of commodities, the rules and applicable VAT Law and how VAT is applied to the various types of commodities. Introduction The Trading of commodities is a major element of the worlds financial system in that many institutions and investors use such trading as a me ans of speculating to generate wealth or hedge against adverse price movements in other investments they hold. Commodities can be traded by Banks, Commodity Houses, Brokerages etc. Commodities are often traded locally in individual countries or on exchanges in terminal markets located in major Financial Centres in the US, Asia and Europe. In the UK, there are a number Terminal Markets which are governed by the Terminal Markets Order (1973): London Bullion Market Association London Metals Exchange London Platinum and Palladium Market International Petroleum Exchange London The London Cocoa Terminal Market The London Coffee Terminal Market The London Meat Futures Market The London Potato Futures Market The London Soya Bean Meal Futures Market The London Sugar Terminal Market The London Vegetable Oil Terminal Market The London Wool Terminal Market The London Grain Futures Market The Liverpool Barley Futures Market Terminal Markets Order The Terminal Markets Order (TMO) was originally published in 1973 and its aim was to remove the administrative burden of VAT and enhance competitiveness in the UK markets by allowing certain Commodity Derivative transactions between Terminal Market members and non members to be Zero Rated. Note: The Terminal Market Order applies specifically to commodity derivatives (Futures, Options, Spots, Forwards) where the underlying asset is a physical commodity such as Grain, Oil, Investment Gold, Pork bellies, Platinum etc. The Terminal Markets Order (TMO) does not cover Financial Derivatives based on currencies, interest Rates, Shares, Bonds, indices etc. These are covered under the Banking Section. (Click on Banking Button on home page for infomation) Products That Benefit From Zero Rating Futures Contracts Commodity Futures are standardised derivatives contracts offered by and traded on commodity exchanges by Investment banks, Commodity Houses, Brokerages (as Exchange Members) and allow investors to: Speculate on the price movement of an underlying commodity such as (Wheat, Coffee, Oil, Natural Gas, Silver) Hedge against the movement of the price of a commodity. ( Mainly large companies and investors that use the future contact as a hedge against to protect their own financial instruments ) Buying or selling a Futures Contract means that the buyer and seller are obligated to buy and sell an agreed quantity of a commodity at an agreed price and take delivery of and transfer the underlying commodity respectively on the expiry date of the contract. Delivery normally occurs when instruction is given to remove the goods from the warehouse. Commodity Futures contacts can either be cash settled (most) where there is no delivery of the underlying commodity and contracts are closed out prior to expiry via the settlement of cash or non cash settled meaning that the commodity is actually delivered at expiry. So if potatoes were the underlying commodities, they would be transferred to the buyer. Commodity Futures benefit from Zero Rating where: They are traded on one of the Terminal Markets listed above Futures transactions are between members of the terminal markets (even where delivery occurs) Futures Transactions are between a member and a non member of the Terminal Market and there is no delivery of the commodity. An agent or broker (who is a market member) between a member and member or non member Note : Where delivery occurs between a member and non member of a Terminal Market, the VAT liability will be based on the underlying product. So for example if the product was Investment Gold, the transaction would be Exempt rather than Zero Rated when the Gold has been delivered. Note: Futures Contracts can also be agreed and bought off exchange (over the counter) OTC . These contracts will not attract Zero Rating (unless the commodity is delivered and specifically zero rated). Where Futures are bought OTC, the VAT liability follows the liability of the commodity being traded. Forward Contracts Commodity Forward Contracts are similar to futures contracts in that they oblige a buyer or seller to buy or sell a given amount of a commodity at a set price on a specified date. The difference between Forwards and Futures is that the contracts are non standardised and traded OTC and do not attract Zero Rating unless the commodity being traded is zero rated. Similar to Futures traded OTC, the VAT liability will follow the liability of the underlying commodity being traded. Option Contracts Option contracts provide the right to either buy or sell an underlying commodity at an agreed price (strike price) on a given date. There is no obligation to buy or sell the underlying commodity and the holder can simply let the option: Expire Close out the option (buy or sell before expiry) Exercise the option and sell or purchase the underlying commodity Regardless of whether an option holder chooses any of the above options, they will have to pay a premium for the right to buy the option. The grant of an option contract is a Zero Rated supply if they are traded on any of the above earlier mentioned Terminal Markets irrespective of whether the transaction is between two market members or a market member and a non market member. The option contract will also remain Zero Rated if it is exercised. However if the option is exercised there will be an additional supply of the underlying commodity. Actuals Contracts Actuals are contracts where the parties agree to the delivery of a commodity for a specific amount and price on a specific date. This can be in the future (futures) or on the spot (Spots) These contracts are Zero Rated where they are traded by two market members on a Terminal Market as listed above. Investment Gold Investment Gold is either: Gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets A gold coin minted after 1800 that is: (a) of a purity of not less than 900 thousandths (b) or has been, legal tender in its country of origin (c) of a description of coin that is normally sold at a price that does not exceed 180 per cent of the open market value of the gold contained in the coin An investment gold coin as specified in Investment gold coins (VAT Notice 701/21A) . Supplies of Investment Gold between two taxable persons who are members of the London Bullion Market Association (LBMA) are Zero Rated . This includes: Futures Contracts Option Contracts Investment Gold that is not traded between members of the LBMA is covered under the VAT Exemption and the supply of Investment Gold here is exempt including for Financial Derivatives (Futures, Forwards, Swaps) excluding options. Note: Suppliers of Investment Gold can also apply to Opt to Tax and thus charge 20% Standard Rated VAT on their supply which allows them to recover VAT on their purchases. See HMRC VAT Notice 701/21: gold Voluntary Carbon Credits From 1 September 2024 VAT needs to be accounted for on certain trades of voluntary carbon credits at the standard rate. The following activities are still outside the scope of VAT: the first issue of a voluntary carbon credit by a public authority the holding of voluntary carbon credits as an investment, where there is no economic activity donations made to voluntary carbon credit projects sales of voluntary carbon credits from self-assessed projects with no independent or third-party verification Voluntary carbon credits in the scope of the Terminal Markets Order The Terminal Markets Order provides a VAT zero rate for wholesale commodity transactions made by members on specified terminal markets. From 1 September 2024, HMRC will allow the VAT relief granted under the Terminal Markets Order to apply to contracts in taxable voluntary carbon credits traded on terminal markets, within the terms of the relief. Electricity and Gas Trading Banks involved in Investment or Wholesale banking often trade in Natural Gas and Electricity via trading contracts for the purchase and supply (delivery) of wholesale gas and electricity. Such supplies are normally subject to the Domestic Reverse Charge Procedure. What this means is that the supply of Gas and Electricity will effectively be Zero Rated for the bank supplying as the liability for accounting for the Output VAT will be passed on to the customer. Only the net sales amounts will appear on their VAT return in Box 6. The opposite will be the case where the bank purchases Gas or Electricity and has to self account for VAT under the reverse charge mechanism thus effectively paying 20% VAT to HMRC and at the same time recovering 20% VAT from HMRC meaning a nil payment in Box 5 to HMRC. Note: This should not be confused with the supply of gas to businesses plus 20% VAT and the supply of domestic Gas and Electricity which is charged at the reduced rate 5% by energy companies. Emission Allowances UKETS (Replaces EU scheme) Emissions trading schemes usually work on the ‘cap and trade’ principle, where a cap is set on the total amount of certain greenhouse gases that can be emitted by sectors covered by the scheme. This limits the total amount of carbon that can be emitted and, as it decreases over time, will make a significant contribution to how we meet our Net Zero 2050 target and other legally binding carbon reduction commitments. Within this cap, participants receive free allowances and/or buy emission allowances at auction or on the secondary market which they can trade with other participants as needed. From the 1 May 2021 domestic Reverse charge VAT applies to the trading of UKETS - Emission Trading Certificates similar to Electricity and Gas Trading above. Oil Trading The supply of oil for non domestic purposes is Standard Rated including Crude oil, Kerosene, Road Fuel, White Diesel among others. Oil traded as commodity futures are covered above under futures. Fiscal Warehousing A fiscal warehouse is a regime where certain commodities in free circulation within Great Britain or between Northern Ireland and the EU can be traded VAT-free , subject to the certain conditions. Goods are in free circulation if they’re produced in the EU or, in the case of imported goods, all duties, taxes and levies due at importation have been paid. How Fiscal warehousing works Fiscal warehousing is a regime under which certain specified commodities may be placed in a notified warehouse and traded by businesses. VAT on the supplies of commodities both entering a fiscal warehouse and made whilst within the warehouse is relieved and accounted for when the commodities are removed from the regime. Goods must be in free circulation for this to happen. Eligible Commodities There are many types of commodities that can be placed in a fiscal warehouse and are eligible to be traded and transferred between fiscal warehouses in Great Britain or between Northern Ireland and the EU. Some of these are listed below (list is not exhaustive): Copper Zinc Nickel Aluminum Lead Oil Cerials Platinum Palladium Coffee (unroasted) Potatoes Eligibility Criteria The eligibility criteria is: Commodity in question should be commonly traded in large quantities on a recognised international market All commodities entered into the fiscal warehouse must be in free circulation Trading within and Removal of Goods from the Warehouse Supplies of goods which are in a fiscal warehouse are outside the scope of UK VAT. There is no requirement to account for VAT to HMRC on such transactions, nor is there any direct customs control over movements or transfers of goods whilst within the fiscal warehouse regime. When goods are removed from the regime the amount of VAT payable will correspond to either the amount which would have been due on the: Transaction that caused the goods to be entered into the warehouse Value of the last supply if they have been sold within the warehouse VAT becomes due when commodities finally leave the fiscal warehousing regime. The amount of VAT due corresponds to the amount of tax which would otherwise have been due on the final supply of goods in the warehouse, plus the amount of tax which would have been applied to any of the relieved supplies of services relating to those goods affected after that final supply. The person liable to pay the VAT on removal is the person who causes the goods to cease to be covered by the regime, if you are: VAT registered, you should account for the VAT on your VAT Return covering the period of the removal Not registered, you must complete form VAT150 Advice of removals from fiscal warehouse by persons unregistered for VAT and present it to the local EPU even when no VAT is due on removal Payment of any VAT due on removal must be made in cash or by cheque. For all removals, proof of ownership and either a stamped copy of form VAT150 or a VAT registration number is required by the warehouse keeper before the goods can be released Where goods are acquired into Northern Ireland from an EU member state and subsequently removed from warehouse without being sold within the warehouse, acquisition VAT must be accounted for in the normal way as explained in VAT Notice 725: VAT on movements of goods between Northern Ireland and the EU . When is VAT not due on Removal of Goods If you remove your goods from a fiscal warehouse in any of the following situations, VAT is not due on the removal of the goods. Removal of zero-rated goods that have not been subject to relieved supplies of services whilst warehoused Removal of your own goods (that either you produced or purchased VAT paid) which you entered to the fiscal warehouse and that have not been sold, nor have they been subject to relieved supplies of services whilst warehoused Exports where goods are exported from Great Britain outside the UK or from Northern Ireland to Great Britain and outside the EU, standard export procedures apply. Such removals must be supported by normal evidence of export. Any associated relieved supplies of services do not become taxable where goods have been exported. Dispatches to EU member states from Northern Ireland where goods are removed in the course of an intra-EU supply, normal Intrastat and intra-EU supply or acquisition rules apply for VAT-registered traders. Relieved services are not taxed on removal to an EU member state but should be reflected in the value of the supply. Temporary removals - authorisations (either general or specific) must be obtained through the approving office. Goods must be returned to the original site or another covered by the authorisation. In order to obtain authorisation, the remover must state the length of time the goods will need to be removed for and for what purpose the removal is required. Such removals must be notified to the warehouse keeper who’s responsible for ensuring that any temporary removals meet the prescribed conditions. VAT-free sampling small quantities of commodities of a negligible commercial value can be removed for this purpose under a simplified removal scheme. The amount and approximate value of the commodity to be removed must be detailed in the authorisation given by the VAT helpline. Such removals must be notified to the warehouse keeper, who’s responsible for ensuring that they meet the prescribed conditions. VAT Treatment for Services in a Fiscal Warehouse Services which may be zero-rated are supplies of allowable physical services within the fiscal warehouse which would otherwise be taxable at the standard rate, for example storage charges. Services which may not be zero-rated are brokerage, agents fees and transport between warehouses. On removal of the goods from the warehouse, any VAT relieved on each supply of services relating to those commodities made after the last sale in warehouse of such commodities must be accounted for, together with the VAT due on the relieved supply of the commodities. For example the commodity may be divided up into smaller packages by a simple operation that does not change its nature. The value of the service that is performed whilst the commodity is still relieved from VAT in the warehouse, must be added to the value of the supply when it is finally sold and removed from the warehouse. For example: Value of re-packaging service £50 Value of final supply of commodity on removal from warehouse £100 Value of total final supply £150 VAT due on total final supply £150 × 20% = £30 Where, as a result of an operation carried out on eligible commodities, the resulting commodities are no longer eligible for fiscal warehousing, they’re treated as having been removed and VAT will become due. VAT R egistration If your only business activity is the supply of goods within a fiscal warehousing regime you have no liability to register for VAT, but you may do so voluntarily if you wish under VAT Act 1994 Schedule 1(10). Your liability to register for other business activities is not affected by either the value of supplies made in a fiscal warehouse or the value of deemed supplies of relieved services accounted for by the remover of the goods. Commodities and VAT - Guide on how VAT is Applied

VATDIGITAL.COM - A leading global VAT news and compliance platform providing businesses and individuals with the latest VAT news, compliance guides, industry news and advice. VAT Digital. Com VAT Digital. Com VAT Digital. Com - Advertise or Sponsor us Demystifying VAT Making VAT Simple The idea for VATDIGITAL.COM was conceived out of the need to help Businesses owners, Entrepreneurs and Individuals access useful information and news about VAT easily and quickly from a single platform. The site has evolved and now provides a combination of VAT & GST news, VAT and Tax and specific industry guides, tax tools and other key links in relation to UK and Global VAT compliance. The site has an inbuilt AI driven VAT advisor which allows visitors to obtain detailed answers and guidance for specific queries in relation to VAT and GST 24/7. The site's development and provision of services is ongoing and continually evolving and will be enhanced to reflect key VAT and other general Tax trends. As founder, I hope you find our site informative and useful. Please follow us on Linkedin. Lastly If you would you like to advertise your business on this site or sponsor us, then please email: enquiries @vatdigital.com Anthony Ene - Founder VAT Digital AI VAT advisor online 24/7

Platforms used for electronic trading of securities and other functions such as crowd funding can have a different VAT liability depending on the underlying service. Trading Platforms Introduction Trading platforms are systems used by banks, brokers and other financial institutions to facilitate the trading of financial or physical products such as Bonds, Commodities, Shares, Currencies etc. The fees charged for the provision of these platforms can be Exempt from VAT on the basis that the service falls within the Financial Intermediaries Exemption item 5, Group 5, Schedule 9 of the VAT ACT 1994 or Taxable if the service does not meet the conditions stipulated by HMRC to warrant exemption. HMRC's view on dealer systems / trading platforms per VAT Notice 701 /49 is as follows: "If you operate a dealing system that allows a user to insert a bid and offer quotes for securities, another user to insert an acceptance and for the system to match and sell deals, your supply of the dealing system is exempt, but only where you run that system". Matching - Exempt T he key point here is the platform has direct autonomous involvement in the matching of counter-parties and allows: Platform users / members to offer or insert bids for exempt financial products (such as shares and currencies) at specified prices and Platform users / members to accept offers available on the platform (or otherwise insert counter-offers and bids). The service of matching of bids and offers by a platform provider/operator in order to bring about a trade in securities, debt and currencies is Exempt under item 5, Group 5, Schedule 9 VATA 94. Messaging / Market Data Services - Taxable Systems that : Allow users to insert bids offers and others to view and accept on a transparent basis Send messages to verify the trade Have no direct involvement in matching anonymous counter-parties Allow market makers to provide and respond to requests for prices from clients Stream market prices and data RFQ, RFS Provide data and information The above types of services where no matching occurs or the system just streams data to subscribers are Standard Rated. Trading Costs Platform Access / Gateway type services where platform only offers matching services = Exempt Platform Access / Gateway type services where platform offers matching and a range of other services = Standard Rated Platform Membership / Subscription Fees = Standard rated Sale of Platform Technology or Software = Standard Rated Investment Platforms Introduction Investment platform providers supply online-based services that are designed to transact, safeguard and administer financial investments online. Some platforms provide services directly to investors whilst others can only be accessed via an adviser or other intermediary. Platforms offer a single view of the client’s investment portfolio and provide a convenient channel through which investments can be aggregated; i.e. the bulk execution of equity orders when the intent is to buy and sell the same equity for multiple clients. This enables investments to be transacted and administered more efficiently. Activities usually undertaken by investment platforms include: Providing access to a wide variety of retail investment products, including collective investment schemes, personal pension schemes, ISAs and other wrapper products, stocks, shares, gilts and insurance funds Receiving, transmitting and executing orders for transacting in those investments on behalf of clients, The safekeeping and administration of clients’ assets, Acting as nominee (and therefore legal owner) of the securities that are held in trust for the individual investor who remains the beneficial owner For product providers, platforms provide a means of distributing their products. Platform Fees usually charged by investment platform providers for such services are Exempt from VAT under items 5 and 6 of Schedule 9, Group 5 of VATA 1994, being services related to transactions in securities. Note: Other services offered such as Portfolio Management, The provision of Market Data, Research, Information etc will Standard Rated. Crowdfunding Platforms Introduction Crowdfunding is the practice of funding a project or new business venture through a collection of small contributions from a large number of people (the crowd) over the internet. The project owner (entrepreneur) will normally use an online platform which specialises in crowdfunding to market and advertise their project to the general public in the hope of generating interest and raising funds. There are two crowdfunding models namely the Non Financial and Financial Reward Models. The Non-Financial Return Model - Reward and Donation Reward Model - The contributor, in return for providing a monetary contribution to the project or venture will receive goods or services (non-monetary reward). VAT Treatment - Where a contributor receives goods or services that have an intrinsic value (e.g. clothing, tickets, dvd) in exchange for support given, there is a supply for VAT purposes. The VAT treatment will follow the liability of the goods or services provided. Donation (No reward model) - The contributor makes a monetary contribution to the project or venture and expects nothing in return. VAT Treatment - Where a contributor freely makes a contribution where they expect and receive nothing in return, the contribution is treated as a donation and is not liable to VAT. The position is the same where all that the funder receives is something of symbolic value. For example, an acknowledgement such as a mention in a programme or something similar. The Financial Return Model - Investment and Loan Based Crowdfunding Investment Based Model - In exchange for their investment, the contributor receives financial remuneration in the form of equity securities (such as shares) or debt securities (such as bonds or debentures) issued by the business who launched the funding campaign. VAT Treatment - Following the decision of the ECJ in Kreztechnik, the issue of securities by the business to the contributor, will not be a supply for VAT purposes provided the purpose of the issue is to raise finance. Where there is a sale, transfer of or trading in existing shares and this is done in furtherance of a course of business, then this is treated as exempt under item 6 Group 5 schedule 9 VATA 94. Where the contributor has received financial remuneration in the form of shares issued by the business, any dividends paid to the contributor will be outside the scope of VAT. Where the contributor has received financial remuneration in the form of a debt security such as a bond or debenture issued by the business, interest received by the contributor as holder of the security will be exempt under item 2 Group 5 schedule 9 VATA 94. Where a fixed term debt security such as a bond is held to its maturity date the repayment received on redemption will be outside the scope of VAT. Crowdfunding Loan Based Model - Otherwise known as peer to peer lending, the contributor will lend money to a business/entrepreneur they select on the crowdfunding platform in return for interest payments and a repayment of capital over time. VAT Treatment - The contributor is granting credit in the form of a loan and in return will receive interest. The value of the supply is the gross interest or other sum received but not the repayment of the loan itself. The interest received on the money loaned is consideration for an exempt supply of credit. Crowdfunding Platform Services Online crowdfunding platforms provide an opportunity for entrepreneurs to market or pitch their project to the general public. Some platforms are generalists and offer different types of projects and crowdfunding, others focus on specific types of project e.g. technology or focus on one type of crowdfunding e.g. an equity platform. Crowdfunding platforms providers operate different fee structures for their services. Fees can include commission on funds raised, yearly or monthly subscription fees, flat fees, arrangement fees, administration fees and legal costs. Some platforms are purely a landing page that brings entrepreneurs and funders/investors together. Others have a more active role and the platform provider acts as the central counter-party in the funding arrangement between the funder / investor and entrepreneur. VAT Treatment - As there can be fundamental differences in the services provided by many crowdfunding platform providers, the VAT treatment will depend on the individual facts of the crowdfunding arrangement and the precise nature and characteristic of the platforms service. If for example, the platform provider acts in an intermediary capacity between the project owner and the investors/contributors in arranging a financial transaction, the service will also be exempt if it falls within item 5 sch 9 VATA 94. If however the platform provider is simply providing the technology for the project holder to advertise and market their project and is not involved in the funding arrangements between the project owner and the funder, the service will be taxable as it is purely technical in nature. -Contains public sector information licensed under the Open Government Licence v3.0. Trading Platforms and VAT

VAT Guide for Norway. Find out how VAT works in Norway including VAT Rates, VAT registration, imports and exports, VAT liability of goods and services etc. Introduction In Norway, Value-Added Tax (VAT) is known as Merverdiavgift (MVA). Managed by the Norwegian Tax Administration (Skatteetaten), the system is designed to be highly digitized, moving towards real-time reporting via SAF-T (Standard Audit File for Tax). As of 2026, several significant updates have been implemented, particularly regarding cross-border services and electric vehicles. VAT Rates in Norway Norway uses a tiered rate system. While the standard rate is among the highest in Europe, several essential services enjoy reduced rates. Rates Applicable: 25% Standard Rate - Most goods and services (clothing, electronics, etc.) 15% Reduced Rate - Food & Drink Food stuffs and beverages (excluding tobacco/alcohol) 12% Low Rate - Transport, cinema, hotel stays, sports events Zero-Rated - Exports, books, newspapers, and certain EVs (up to a limit) Exempt - No VAT - Health services, education, financial services Note on Electric Vehicles (EVs): As of 2026, the VAT exemption threshold for electric cars has been reduced to NOK 300,000. Only the portion of the purchase price exceeding this amount is subject to the 25% VAT rate. Registration Requirements Registration is mandatory once your turnover exceeds a specific threshold within a 12-month period. Standard Businesses: NOK 50,000 Charitable/Non-profit: NOK 140,000 Key Rules for Foreign Companies: VAT Representative: If you do not have a fixed place of business in Norway, you must generally register through a Norwegian VAT Representative. Exception: Companies from certain EEA countries (including the UK) may register directly without a representative. VOEC Scheme: For B2C sales of low-value goods (under NOK 3,000) or digital services, foreign sellers can use the simplified VAT on E-Commerce (VOEC) scheme, which does not require a local representative. 2026 Changes & Regulations Significant legislative updates came into force on January 1 and July 1, 2026. Multi-Location Entities (MLEs): From July 1, 2026, new "reverse charge" rules apply to cross-border services within the same legal entity. If a head office abroad buys a service for use by its Norwegian branch, Norwegian VAT must now be accounted for. Related-Party Receivables: Effective January 1, 2026, the right to claim a VAT deduction for "lost" receivables between related parties is restricted if the debt remains unpaid for more than 24 months. SAF-T Reporting: Norway requires the use of the SAF-T (Standard Audit File for Tax) format. This means your accounting software must be able to export data in a specific XML format for tax audits. Reporting and Deadlines The standard reporting period is bi-monthly (every two months). Smaller businesses may apply for annual reporting if their turnover is below NOK 1 million. The Standard VAT Registration Checklist If your business sells goods/services in Norway (B2B or physical storefronts) and exceeds NOK 50,000 in turnover over 12 months, follow this path: Step 1: Get an Organization Number Register your business as a Norwegian-Registered Foreign Company (NUF) via the Brønnøysund Register Centre (Form BR 1080). Timeline: Usually 2–3 weeks. Step 2: Appoint a Representative (If Required) Required for non-EEA companies. Companies from the UK, EU/EEA (e.g., Germany, France, Sweden) are exempt and can register directly. Step 3: Register in the VAT Register You cannot register until you hit the NOK 50,000 threshold (unless applying for "pre-registration" based on large initial investments). Apply via Skatteetaten (Norwegian Tax Administration) using your organization number. Step 4: Post-Registration Compliance You must add the letters "MVA" after your organization number on all invoices. If you reached the threshold mid-invoice, you must go back and "post-invoice" the VAT for the transaction that pushed you over the limit. The VOEC Scheme (E-Commerce Simplified) The VAT On E-Commerce (VOEC) scheme is designed for foreign online sellers (B2C) selling low-value goods or digital services. Key Rules for 2026: Item Limit: Applies to items with a value under NOK 3,000 (excluding shipping/insurance). Exclusions: Does not apply to food, alcohol, tobacco, or restricted goods. Digital Requirement: As of 2026, you must provide your VOEC number digitally to the transporter. Physically writing it on the box is no longer sufficient and may lead to double taxation. VOEC Registration Process: Create an Altinn User: Visit the Skatteetaten VOEC portal and create a user profile without a Norwegian ID number/D-number. Submit Form RF-1291: Provide your home country tax ID and business details. Receive VOEC ID: You will receive a 7-digit identification number within 1–3 working days. Quarterly Filing: Unlike standard VAT (bi-monthly), VOEC returns are filed quarterly (April 20, July 20, October 20, Jan 20). Norway-VAT

Construction industry VAT Guide - how VAT is applied in the Construction Industry for new buildings, renovations, etc. CIS and domestic reverse charges, VAT rates and much more Introduction The Construction of new buildings and renovations to existing buildings are normally charged at the Standard Rate of VAT 20%. Services of trades persons such as carpenters, plumbers, electricians etc are usually charged at the Standard Rate of VAT 20%. However there are instances where construction can be Zero Rated and no VAT charged. Buiding new houses and flats - Don't have to charge VAT for Materials and Labour (provided they meet the definition of a new house) = Zero Rated Construction of new qualifying dwellings and communal residential buildings, and certain new buildings used by charities = Zero Rated 0% Conversion for a housing association of a non-residential building into a qualifying dwelling or communal residential building = Zero Rated 0% Conversion (other than for housing associations) of a non-residential building into a qualifying dwelling or communal residential building and conversions of residential buildings to a different residential use = Reduced Rate 5% Renovation or alteration of empty residential premises = Reduced Rate 5% Approved alterations to listed dwellings and communal residential buildings, and certain listed buildings used by charities (rate shown with effect from 1 October 2012) = Standdard Rated 20% Alterations to suit the condition of people with disabilities = Zero Rated 0% Reliefs from VAT for disabled and older people. See (VAT Notice 701/7) Installation of energy saving materials; and grant funded heating system measures and qualifying security goods = Reduced Rate 5% (Energy-saving materials and heating equipment (VAT Notice 708/6) Development of residential caravan parks = Zero Rated 0% First time gas and electricity connections = Zero Rated 0% (Fuel and power (VAT Notice 701/19) Construction work on children’s homes = Zero Rated 0% Construction work on residential care homes = Zero Rated 0% Construction work on hospices = Zero Rated 0% Construction work on student accommodation = Zero Rated 0% Construction work on school boarding houses = Zero Rated 0% Installation of mobility aids for the elderly for use in domestic accommodation = Reduced Rate 5% Home improvements on domestic property situated in the Isle of Man = Reduced Rate 5% Isle of Man VAT Notice Home improvements available from: Note: There are several conditions that have to be met to be able to zero rate and apply reduced rates as above. Please refer to the attached HMRC notice Buildings and construction (VAT Notice 708) Construction Indu str y Scheme The Construction Industry Scheme is a HMRC process whereby Contractors working in the building and construction industry deduct tax from payments made to their subcontractors and pay the money deducted over to HMRC. To do this, contractors are required to register with HMRC. Subcontractors are not required to be registered but if they don't they will have tax deducted at the higher rate (not 20%) by their contractor making payments to them. The tax deductions are a made from the non materials portion of the amounts being paid. Contractors Sole Traders Limited Companies Partnerships Government Departments Local Councils Businesses spending £3M in a year on construction Note contractors can als o be subcontractors when the do work for other contractors Construction Industry Scheme (CIS) and Reverse Charge VAT Prior to 1 March 2021, subcontractors invoicing their VAT registered contractors for work done would as normal be required to include VAT at 20% on their invoices. From 1 March 2021 the domestic VAT reverse charge must be used for most supplies of building and construction services. The charge applies to standard and reduced-rate VAT services: For individuals or businesses who are registered for VAT in the UK Reported in the Construction Industry Scheme What does Reverse Charge Mean? It means that instead of charging VAT on your invoice to your contractor, you just show the net amount and add the words "Reverse Charge Applies", "Customer to Account for VAT" on the invoice. Your contractor will then be required to account for the VAT that you would normally have charged (Pre introduction of Reverse Charge Rules) on their VAT return in Box 1 (VAT on Sales) and also in Box 4 (VAT on Purchases). Therefore in effect the Contractor will not pay any VAT to HMRC as the Box 1 VAT amount payable will be cancelled out by the Box 4 VAT recoverable amount due from HMRC. Example: Sub-contractor A has done work for £100,000 for Contractor B. Sub-contractor A will include £100.000 on their invoice and will not include any VAT, just the words "reverse charge" "customer to account for VAT". The contractor will include £20,000 reverse charge output VAT (20% of £100,000) in their sales VAT (box 1) and £20,000 reverse charge input VAT recoverable in their purchase VAT (box 4) on their VAT return when they receive the invoice from subcontractor A. Therefore contractor A pays no VAT to HMRC. Also contractor B pays no VAT to HMRC as their VAT return will show £20,000 reverse charge output VAT payable and £20,000 reverse charge VAT recoverable from HMRC. So in effect a nil box 5 and no VAT to pay or recover from HMRC. When should Subcontractors use the Reverse Charge Procedure They must use the reverse charge for the following services: Constructing, altering, repairing, extending, demolishing or dismantling buildings or structures (whether permanent or not), including offshore installation services Constructing, altering, repairing, extending, demolishing of any works forming, or planned to form, part of the land, including (in particular) walls, roadworks, power lines, electronic communications equipment, aircraft runways, railways, inland waterways, docks and harbours, pipelines, reservoirs, water mains, wells, sewers, industrial plant and installations for purposes of land drainage, coast protection or defence Installing heating, lighting, air-conditioning, ventilation, power supply, drainage, sanitation, water supply or fire protection systems in any building or structure Internal cleaning of buildings and structures, so far as carried out in the course of their construction, alteration, repair, extension or restoration Painting or decorating the inside or the external surfaces of any building or structure Services which form an integral part of, or are part of the preparation or completion of the services described above - including site clearance, earth-moving, excavation, tunnelling and boring, laying of foundations, erection of scaffolding, site restoration, landscaping and the provision of roadways and other access works When should Subcontractors not use the Reverse Charge Procedure Do not use the reverse charge for the following services, when supplied on their own: Scaffolding hire (with no labour) Carpet fitting Making materials used in construction including plant and machinery Delivering materials Work on construction sites that’s clearly not construction - for example, running a canteen or site facilities Extracting minerals (using underground or surface working) and tunneling, boring, or construction of underground works, for this purpose Drilling for, or extracting, oil or natural gas Manufacturing building or engineering components or equipment, materials, plant or machinery, or delivering any of these to site Manufacturing components for heating, lighting, air-conditioning, ventilation, power supply, drainage, sanitation, water supply or fire protection systems, or delivering any of these to site The professional work of architects or surveyors, or of building, engineering, interior or exterior decoration and landscape consultants Making, installing and repairing art works such as sculptures, murals and other items that are purely artistic sign writing and erecting, installing and repairing signboards and advertisements Installing seating, blinds and shutters Installing security systems, including burglar alarms, closed circuit television and public address systems For more information on how to apply Reverse Charges in the Construction Industry please refer to HMRC's Link below. Domestic reverse charge procedure (VAT Notice 735) -Contains public sector information licensed under the Open Government Licence v3.0. Construction and VAT - Comprehensive VAT Guide

Read our guide on which good and services are Exempt from VAT and why including legislative references. The sale of exempt goods and services will impact VAT recovery Introduction Below is a list of VAT Exempt areas under Schedule 9 of the Value Added Tax Act 1994. Click on each link for more detail. Note: Supplies to UK counter-parties under these categories will generally be exempt from VAT which means no VAT will be charged by businesses supplying these services. Also businesses making supplies of purely VAT exempt goods and services will in most cases not be able to recover input VAT incurred on costs. Group 1— Land Group 2 — Insurance Group 3— Postal services Group 4— Betting, gaming , dutiable machine games and lotteries Group 5— Finance Group 6— Education Group 7— Health and welfare Group 8— Burial and cremation Group 9— SUBSCRIPTIONS TO TRADE UNIONS, PROFESSIONAL AND OTHER PUBLIC INTEREST BODIES Group 10— Sport, sports competitions and physical education Group 11— Works of art etc GROUP 12—FUND-RAISING EVENTS BY CHARITIES AND OTHER QUALIFYING BODIES GROUP 13— CULTURAL SERVICES ETC GROUP 14—SUPPLIES OF GOODS WHERE INPUT TAX CANNOT BE RECOVERED GROUP 15—INVESTMENT GOLD GROUP 16 — SUPPLIES OF SERVICES BY GROUPS INVOLVING COST SHARING -Contains public sector information licensed under the Open Government Licence v3.0. VAT Exemptions - VAT Act 1994

Comprehensive guide on the VAT liability of private hire / taxi services provided to the general public including a look at the principal and agent operating models. Introduction The provision of taxi services to the public is chargeable at the standard rate of VAT 20%. Taxi services comprise of: Drivers who own or rent vehicles to provide taxi services to the public Companies that provide taxi services to the public by either using their own fleet of vericles or use drivers who operate on a sub contract basis. Drivers who own or rent vehicles to provide taxi services Drivers that use their own or rented vehicles to provide taxi services to the general public are doing so as self employed taxi drivers. Drivers must register for VAT where they they exceed or intend to exceed the VAT registration threshold of £85,000 Standard Rated VAT 20% VAT is applicable on these taxi services as follows: Taxi journeys provided to the public (including waiting time) Any additional charges for baggage Services provided to other taxi firms on a contract basis Note: Working for a taxi firm on an employed basis (as an employee) is not classed as being in business providing taxi services. The company employing the taxi driver(s) is providing taxi services for VAT purposes. Companies that provide taxi or private hire services Companies that provide taxi or private hire services to the general public using either employed or subcontracted drivers are providing vatable services and should charge 20% VAT. These services are either provided to customers who pay cash directly to the driver or to account holders who use private hire firms such as Addison Lee or UBER. Services that they provide where standard rated VAT 20% is applicable are as follows: Taxi or private hire journeys provided by the company to the general public (individuals or companies etc) by drivers employed by the company Taxi or private hire journeys provided to the general public (individuals or companies etc) using subcontracted drivers or companies Taxi Journeys provided by the Owner, Director, Partner to the general public (individuals or companies) using the companies vehicles or their own. Referral fees received from taxi drivers or firms for passing business to them Note: VAT should be applied to the full fare collected from the customer before any deductions made from amounts payable to subcontracted drivers or companies. (For example where you charge them for use of equipment such as radios, satnavs etc.) Also VAT invoices or receipts should be provided to customers who request or require one. UBER vs HMRC - Note Uber was assessed for almost £400M by HMRC in 2023 for VAT in relation to VAT which HMRC argues is underpaid for historical fare rides where VAT was not charged by UBER. UBER are challenging this assessment. See link to Tax Policy Associates Article. Exclusive report: HMRC pursuing Uber for another £386m of VAT – Tax Policy Associates Ltd . Also see BOLT case below in Dec 2023 which may help UBER's case when heard in 2024. BOLT vs HMRC - Note BOLT recently won a tax tribunal case in London where it argued that it should only pay VAT to HMRC on the margin (difference between what it receives and pays to drivers) based on the Tour Operators Margin Scheme. HMRC have since been granted the right to appeal the decision. March 2025 - UTT (upper tribunal) Bolt has successfully defended its case against HMRC and the UT has agreed with the FTT in that Bolt can use the TOMS for VAT on ride hailing services. May 2025 - HMRC - have paused collecting assessed VAT on the full Value of rides on its platform following the success of the bolt case above. HMRC - Granted permission to appeal at the Court of Appeal (May / June 2026) Veezu and Delta Taxis - The Court of Appeal overturned the High Court’s earlier decision brought by UBER where it argued that VAT should be applicable to Taxi fares. This now means taxi firms in England and Wales – outside of London – will not be forced to apply VAT onto their fares. The ruling will not impact Uber, who will continue to charge VAT on fares, but will mean many smaller firms can continue to operate as they have previously. (Source City AM) UBER - July 2025 - Has lost its Supreme Court appeal on the above where it sought to overturn the above High Court decision that rival taxi firms outside of London do not have to charge 20% VAT on their rides. Business Structure of Companies that provide Taxi or Private Hire Services Principal or Agency Model where taxi or private hire firms use subcontracted drivers, they can either act in the capacity of Principal or as an agent to the drivers. Acting as Principal Where taxi or private hire firms provide services to the general public as principal using subcontracted drivers, the services are being provided by the firm itself and it must account to HMRC for VAT at 20% on the full fare charged to the customer. Acting as Agent Where taxi or private hire firms provide services to the general public acting as agent for self employed drivers or other companies, it means the actual supply of transport services is between the self employed driver and the customer riding the taxi. The Taxi firm acting as agent will normally: Inform the drivers of customer bookings and location Collect cash on behalf of the drivers where bookings are made by account holders. Invoice the drivers for their agency fee and charges for car and radio hire plus 20% VAT Invoice account holder customers (including 20% VAT) for an admin charge which should be shown as a separate line on the total invoice for transportation services provided Note: VAT should only be billed and collected from account holders where the driver is registered for VAT Using the Principal Model and the Agency Model A company can use both the principal model and agency model for account holders and cash customers respectively provided there are properly drafted contractual agreements and terms with drivers and companies and there are genuine differences between the two sides of the business. Taxi Associations Taxi Associations are companies that are set up by a group(s) of taxi drivers to: Facilitate the allocation of customer orders among its members provide a central control room for handling and allocating jobs provide standard equipment such as radios, satnavs etc to members Taxi Associations must register for VAT where their services billed exceed the VAT Registration threshold of £85,000 -Contains public sector information licensed under the Open Government Licence v3.0. Taxi Services and VAT

Comprehnsive guide for the different VAT rates applicable to various goods and services in the UK, including Health, Transport, Land & Buildings, Education, Charities etc. VAT Rates For Goods & Services Food and Drink Food and drink for human consumption is usually zero-rated but some items are always standard-rated. These include: catering alcoholic drinks confectionery crisps and savoury snacks hot food sports drinks hot takeaways ice cream soft drinks and mineral water Restaurants must always charge VAT on everything eaten either on their premises or in communal areas designated for their customers to use, such as shared tables in a shopping centre or airport food courts. In addition, restaurants and takeaway vendors must charge VAT on all hot takeaways and home deliveries, but do not need to charge VAT on cold takeaway food unless it’s to be eaten in a designated area. Animals and animal food Supplies of live animals that are zero-rated You can zero rate the sale, hire or loan or supply of a part interest (a share) of a live animal provided it’s of a kind generally used in the UK, or yielding or producing food for human consumption. Animal includes bird, fish, crustacean and mollusc. Examples of Zero Rated Animals are: meat animals dairy animals poultry (except ornamental breeds), including those for egg production, honey bees fish (except ornamental breeds and coarse fish), including those for production of edible roes Animals that are standard-rated Examples of standard-rated animals are: bumble bees ornamental birds and fish racing pigeons horses Live kangaroos Pets Animals that will be kept as pets can be zero-rated only if they are of a kind that is normally used for human food production. For example, rabbits, other than ornamental breeds, are always zero-rated. Animals kept for non-food purposes Animals kept for non-food purposes can be zero-rated if they are of a kind normally producing food for human consumption. Sheep kept mainly for their wool, or bulls used for breeding are zero-rated. Birds Most breeds of chicken are zero-rated, as are game birds and ostriches. Ornamental breeds of birds are standard-rated. The following breeds of ducks, geese and turkeys are zero-rated: Type of fowl Breed Ducks - Aylesbury, Campbell (Khaki Campbell), Indian Runner, Muscovy, Pekin and derivatives and crossbreeds of these Geese - Brecon Buff, Chinese Commercial, Embdem, Roman, Toulouse and derivatives and crossbreeds of these Turkeys - Beltsville White, British White, Broadbreasted White, Bronze (Broadbreasted Bronze), Norfolk Black and derivatives and crossbreeds of these Fish Freshwater fish - Eels, salmon and trout and others recognised as food for human consumption are zero rated. Bream, perch, pike, carp and tench are standard rated. Shellfish - Oysters, mussels, whelks are zero rated while non food species are standard rated Fish for aquaria -All supplies are standard rated Fish used as bait - Fish of a kind, and fit for, human consumption are zero rated and all other supplies are standard rated. Ornamental fish - for example koi carp Agricultural and horticultural crops Crops covered by the relief All crops that are specifically grown to produce food of a kind for human consumption or animal feeding stuffs are zero-rated. The zero rate also applies to seeds, seedlings, crowns, spores, tubers and bulbs of edible vegetables and fruit. What’s not covered by the relief Any crop that generally produces items that are not fed to humans or animals is always standard-rated. Plants that are primarily grown for their ornamental effect (such as ornamental nursery stock including trees, shrubs, herbaceous plants, alpines and pot plants) are standard-rated. Plants, seeds and fruit of a kind used for the production of perfumes, pharmaceutical products, insecticides, fungicides and other non-food uses are standard-rated. Some examples of plants that are standard-rated are: Evening primrose, because this is grown for the extraction of its oil Tulips and Hyacinths, because these are grown and sold for ornamental purposes Norfolk reed, because this is grown for thatching material Sport, leisure, culture and antiques Betting and gaming — including pool betting and games of chance is Exempt from VAT Bingo — including remote games played on the internet, telephone, television or radio is Exempt from VAT Bingo — including remote games played on the internet, telephone, television or radio is Exempt from VAT Lottery ticket sales is Exempt from VAT Online lottery games is exempt from VAT Retailer commission on lottery ticket sales is Exempt from VAT Culture Admission charges by public authorities or eligible cultural bodies to certain cultural events such as visits to museums, art exhibitions, zoos and performances is Exempt from VAT Antiques Antiques, works of art or similar (as assets of historic houses) sold by private treaty to public collections are exempt from VAT Antiques, works of art or similar (as assets of historic houses) used to settle a tax or estate duty debt with HMRC again are exempt from VAT Health, education, welfare and charities Charities Admission charges by charities are Exempt from VAT Advertising services for charities VAT are zero rated Certain goods sold at charitable fundraising events are zero rated Charitable fundraising events are Exempt from VAT Charity shops — selling donated goods is zero rated for VAT Construction and sale of new buildings for a relevant charitable purpose are zero rated for VAT Energy-saving materials permanently installed in dwellings and buildings used for a relevant residential purpose providing the total cost of them (not including VAT) is not over 60% of the cost of the installation of the products (not including VAT) 5% reduced rate VAT applies. Energy-saving materials — supply only — are Standard-Rated (20%) Sponsored charitable events are Exempt from VAT. Voluntary donations to charities are outside the scope of VAT Welfare Building services for disabled people are zero rated for VAT Burial or cremation of dead people, or burial at sea is Exempt from VAT Mobility aids for the elderly, 5% reduced rate VAT applies Equipment for blind or partially sighted people is zero rated Equipment for disabled people is zero rated for VAT Funeral plans written under contracts of insurance are Exempt from VAT Smoking cessation products — nicotine patches and gum, 5% reduced rate VAT applies Welfare services provided by charities at significantly below cost are Outside the scope of VAT Magnetic tape adapted for recording speech for blind people together with apparatus for making and playing the adapted tape and certain low vision aids are zero rated. Health Care or medical treatment provided by a qualifying institution like a hospital, hospice or nursing home are Exempt Dispensing of prescriptions by a registered pharmacist is zero rated for VAT Health services provided by registered doctors, dentists, opticians, pharmacists and other health professionals is Exempt from VAT Incontinence products are zero rated. Maternity pads are zero rated Sanitary protection products are zero rated Low vision aids are zero rated Education Education and vocational training provided by an eligible body other than a ‘private school’. Goods or services closely connected to the education provided by an eligible body like a school, college or university is Exempt from VAT. VAT Notice 701/30 Building and construction Substantial reconstructions to protected buildings that are buildings used as a dwelling, for a relevant residential purpose or for a relevant charitable purpose is zero rated VAT Notice 708 The installation of a bathroom or lavatory, constructing ramps and widening doorways or passageways for disabled people in their own home is zero rated Building services for disabled people Construction and first freehold or long leasehold sale of a new building for a relevant charitable purpose is zero rated. VAT Notice 708 Construction and first freehold or long leasehold sale of a new building for relevant residential purposes is zero rated. VAT Notice 708 Construction and first freehold or long leasehold sale of new domestic buildings is zero rated. VAT Notice 708 Converting existing premises by increasing the number of dwellings within the building, 5% VAT applies. VAT Notice 708 Renovating a dwelling that has been empty for at least 2 years 5% VAT applies. VAT Notice 708 First freehold or long leasehold sale of a commercial building converted into a dwelling or dwellings is zero rated. VAT Notice 708 First freehold or long leasehold sale of buildings converted for relevant residential purposes is zero rated. VAT Notice 708 First freehold or long leasehold sale of buildings converted for relevant charitable purposes is zero rated. VAT Notice 708 Land and property Garages or parking spaces let together with dwellings (under short hold tenancy agreements) for permanent residential use are Exempt from VAT. — VAT Notice 742 Parking — grant, or licence, to occupy land on which incidental parking takes place is Exempt from VAT. VAT Notice 742 Property, land and buildings — grant, or licence, to occupy land or buildings is Exempt from VAT. VAT Notice 742 Sale or long lease of a new dwelling with garage or parking space is zero rated for VAT. VAT Notice 708 Transport, freight, travel and vehicles Transport Aircraft repair and maintenance is zero rated for VAT. VAT Notice 744C Travel Houseboat moorings are Exempt from VAT. VAT Notice 742 Parking spaces or garages supplied with houseboat moorings are Exempt from VAT. VAT Notice 742 Passenger transport in a vehicle, boat or aircraft that carries not less than 10 passengers is zero rated for VAT. VAT Notice 744A Tolls for bridges, tunnels and roads operated by public authorities is Outside the scope of VAT. Privately-operated tolls for bridges, tunnels and roads are standard-rated — VAT Notice 700 Freight Freight transport to or from a place outside the UK is zero rated for VAT. Domestic freight transport is standard-rated, unless it is the domestic leg of freight transport between the UK and another country in which it is zero rated. — VAT Notice 744B Freight containers — sale, lease or hire to a place outside the UK and the EU is zero rated. VAT Notice 703/1 International freight transport that takes place in the UK and its territorial waters is zero rated. VAT Notice 744B Vehicles Aircraft repair and maintenance is zero rated. VAT Notice 744C Airships — sale or charter is zero rated. VAT Notice 744C Caravans (more than 7 metres long or more than 2.55 metres wide) is zero rated or 5%. Taxing holiday caravans Civil aeroplanes — sale or charter is zero rated for VAT. Gliders — sale or charter — are standard-rated as are hot air balloons — VAT Notice 744C Helicopters — sale or charter is zero rated for VAT. VAT Notice 744C Houseboats — sale or let out on hire is zero rated for VAT, But holiday accommodation let in a moored houseboat is standard-rated — VAT Notice 701/20 Military aeroplanes — sale or charter is zero rated for VAT. VAT Notice 744C Ship repairs and maintenance is zero rated for VAT. VAT Notice 744C Shipbuilding — 15 tons or over gross tonnage is zero rated for VAT. VAT Notice 744C Printing, postage, publications — books, magazines and newspapers Printing Brochures is zero rated for VAT. VAT Notice 701/10 Leaflets is zero rated for VAT. VAT Notice 701/10 Pamphlets is zero rated for VAT. VAT Notice 701/10 Postage Direct-mail postal services meeting all the conditions of VAT Notice 700/24 3.2 and 3.3 are Outside the scope of VAT. VAT Notice 700/24 Postage, packing and delivery within the UK included in the sales contract but charged for separately, for example, mail order The same rate as the goods being delivered or posted Postage, packing and delivery within the UK charged as an optional extra is always standard-rated — VAT Notice 700/24 Public postal services provided by the Royal Mail under a universal service obligation are Exempt from VAT. Standard Royal Mail first and second class services for example Other postal services that are not subject to a universal service obligation are Standard-Rated (20%) Supplies that are not subject to regulation Publications Books are zero rated for VAT. VAT Notice 701/10 Children’s painting and picture books are zero rated for VAT. VAT Notice 701/10 Maps and charts are zero rated for VAT. VAT Notice 701/10 Magazines are zero rated for VAT. VAT Notice 701/10 Newspapers are zero rated for VAT. VAT Notice 701/10 Printed or copied music are zero rated for VAT. VAT Notice 701/10 Publications are zero rated for VAT. Some items are standard-rated such as exercise books, letterheads, posters — VAT Notice 701/10 Clothing and footwear, protective and safety equipment Clothing and footwear Babywear is zero rated for VAT. VAT Notice 714 Children’s clothes and footwear is zero rated for VAT. VAT Notice 714 Protective and safety equipment Carrycots with restraint straps, 5% VAT applies. VAT Notice 701/23 Children’s car seats, booster seats and booster cushions , 5% VAT applies. VAT Notice 701/23 Children’s safety seats with bare wheeled framework, 5% VAT applies. Prams and pushchairs are standard-rated (20%) — VAT Notice 701/23 Cycle helmets — CE marked are zero rated for VAT. VAT Notice 701/23 Motorcycle helmets that meet safety standards are zero rated for VAT. VAT Notice 701/23 Protective boots and helmets for industrial use are zero rated for VAT. VAT Notice 701/23 Open Government Licence v3.0

Comprehensive guide on Canada GST, PST and HST and how it is applied in Canada including registration thresholds, who is required to register and rates for GST, PST & HST by province. Canada GST Guide - Comprehensive guide for GST in Canada Introduction T he Canadian Tax Authority is know as the Canada Revenue Agency (CRA) and is responsible for administering General Sales Tax (GST) and Harmonized Sale Tax (HST). The Federal GST rate of 5% is applicable across all provinces and territories and where a province has what is known as a Provincial Sales Tax (PST) and it is combined with GST, then this is known as Harmonized Sales Tax (HST). However some provinces have a separate Provincial Sale Tax (PST) that is levied alongside GST. General Services Tax (GST) and Harmonized Sales Tax (HST) are consumption taxes levied on most property and services in Canada. G ST / HST Rates Provinces with 5% GST Alberta British Columbia + 7% PST Manitoba + 7% PST Northwest Territories Nunavut Quebec Saskatchewan + 6% PST Yukon Provinces with HST 13% (HST) in Ontario 14% (HST) in Nova Scotia 15% (HST) in New Brunswick 15% (HST) in Newfoundland and Labrador 15% (HST) in Prince Edward Island When Do you Have to Register for GST / HST Businesses - who's total worldwide taxable supplies (including zero rated supplies) are above CAD $30,000 (CAD $50,000 for public service bodies) in a single calendar quarter or in total over the last 4 consecutive calendar quarters or less (but not in a single calendar quarter) will be required to register for Goods and Services Tax (GST) / Harmonized Sales Tax (HST). Worldwide Taxable supplies should exclude revenues from supplies of Financial Services, Sales of Capital Property and goodwill from the sale of a business. Note: Voluntary Registration is also allowed where businesses (small suppliers) do not exceed this threshold but wish to claim GST / HST input tax credits from the CRA on purchases they have made such as: Business start-up costs Business-use-of-home expenses Delivery and freight charges Fuel costs Legal, accounting, and other professional fees Maintenance and repairs Meals and entertainment (allowable part only) Motor vehicle expenses Office expenses Rent Telephone and utilities Travel Charities and Public Institutions - will also be considered as small suppliers if they meet the CRA's gross revenue test of $250,000 or less. For more information on what constitutes a charity or public institution, please see the link to the CRA website GST/HST Memorandum 2-2, Small suppliers . Taxi Operators / Commercial Ride Sharing Driver - Self-employed taxi drivers or commercial ride-sharing drivers, have to register for the GST/HST even if they are a small suppliers and the effective date of registration is the day they start supplying taxable passenger transportation services. Non Resident Businesses - that do not have a permanent establishment (fixed place of business) in Canada may be required to register for GST / HST if they: Make supplies of Cross-border digital products and services Make supplies of Goods located in Canada Make supplies of Platform-Based Short-Term Accommodation Make supplies of Taxable goods or services, leases, or other supplies (including zero-rated supplies) in Canada in the course of carrying on business activity in Canada. Make supplies of Books, newspapers, magazines, periodicals, or similar printed publications in Canada or you offer such goods for sale in Canada, either through an employee or agent, or by means of advertising directed at the Canadian market, and send the publications by mail or courier to the recipient at an address in Canada. Sponsor (host) a convention in Canada and more than 25% of the attendees are residents of Canada. (Mandatory registration for GST / HST) Make taxable sales, leases, or other supplies (including zero-rated supplies) of admissions in Canada for a place of amusement, a seminar, an activity, or an event held in Canada. (Mandatory registration for GST / HST) Source CRA Effective Date of GST / HST Registration The effective date of registration is the day of the supply that made a business exceed $30,000 and GST / HST must be applied to that supply. Mandatory Electronic Filing of GST / HST Returns From 2024, all Businesses registered for GST / HST are required to file their returns electronically unless they are: A Charity Selected Listed Financial Institutions Other useful links can be found on the CRA website below Building and Construction GST / HST Builders and construction Non Resident Digital Platform Businesses GST / HST Non-resident digital-economy businesses Listed Financial Institutions GST / HST GST/HST Notice 265, GST/HST Registration for Listed Financial Institutions (including Selected Listed Financial Institutions) .

Summary of VAT changes and new policies in the Chancellors Autumn Budget 2025 and likely impacts including VAT, Corp Tax, Property, Savings, Dividends, Energy and more. UK Autumn Budget VAT & Tax Update - 2025 Autumn Budget Summary The Chancellor Rachel Reeves delivered her Autumn budget today Wednesday 26th November and the key VAT and Tax Changes are outlined below. VAT Changes In the Autumn Budget, it was confirmed that Electronic Invoicing (e-invoicing) will be mandatory for all business to business (B2B) and business to government(B2G)invoicing with VAT from 1 April 2029. Further details including a road map will be published in the 2026 budget. The introduction of e invoicing will deliver many efficiencies to businesses but will require planning and resources to ensure systems are up to date and compliant for the exchange of invoices electronically in the required format. For more information on what e-invoicing is and the different models that underpin it including the associated efficiencies and benefits , please see our e-invoicing news page. Please also see the updated consultation document link below following the Autumn budget announcement. Promoting electronic invoicing across UK businesses and ... VAT on Taxi or Ride Hailing Companies - Such as Uber or Bolt will no longer be able to apply the tour operators margin scheme and charge VAT only on their margins (How much they charge drivers or commission) and will have to apply VAT to the full ride sales value from 2 January 2026. Pension Salary Sacrifice Salary sacrifice is when you agree to reduce your gross salary or sacrifice a bonus and, in return, your employer pays the same amount into your pension. under current rules, these contributions are exempt from national insurance. However from 1 April 2029, this exemption will be capped at £2,000 meaning that payments under such schemes above this level will then attract employees and employers national insurance. Note: - These contributions into employer pension schemes will continue to be exempt from income tax subject to the normal limits. For more information please see the link to HMRC guidance. Changes to salary sacrifice for pensions from April 2029 Cash ISA's Also announced in the Autumn budget that from April 2027, the amount of cash you can pay into a cash ISA annually will be reduced from the current level of £20,000 down to £12,000 unless you are above 65 years of age. However the overall ISA allowance will remain at £20,000 which means the other £8,000 can only be used for investments. (Unless over 65) The aim here was to create and encourage more investments in the UK. Savings, Dividends and Property Income The government is raising rates of tax on property, savings and dividend income to ensure income from assets is taxed more fairly on the basis that property, savings or dividend income does not attract national insurance and as such individuals with such income pay less tax than those whose income comes from employment or self-employment. The increase in tax on property, savings and dividend income will help to narrow this gap. Tax on dividend income will increase by 2 percentage points. The ordinary rate will rise from 8.75% to 10.75%, and the upper rate from 33.75% to 35.75% from April 2026. The additional rate will remain unchanged at 39.35%. Tax on savings income will increase by 2 percentage points across all bands. The basic rate will rise from 20% to 22%, the higher rate from 40% to 42%, and the additional rate from 45% to 47% from April 2027. Tax on Property to have individual rates (similar to tax on savings and dividends). From April 2027, the property basic rate will be 22%, the property higher rate will be 42% and the property additional rate will be 47%. Finance cost relief will be provided at the separate property basic rate (22%). For more information on the above changes, please see the attached HMRC guidance link. Changes to tax rates for property, savings & dividend income Corporation Tax Capital allowances allow businesses to write off the costs of capital assets, such as plant or machinery, against their taxable income. They take the place of commercial depreciation, which is not allowed for tax. Writing Down Allowances (WDA) which allows companies, sole traders and partnerships to deduct the cost of plant and machinery from their profits chargeable to corporation tax will be reduced from 18% to 14% from April 2026. New 40% First Year Allowance (FYA) - which will allow both companies and unincorporated businesses (from 1 January 2026) to deduct 40% of the cost of the main pool of plant and machinery upfront from profits in the first year. This new relief is specifically beneficial to unincorporated businesses and leasing providers who were previously not able to use the full expensing 100% FYA available to companies. Note - The existing 100% full expensing allowance available to companies will be available only up until March 2026 and then replaced by the new 40% FYA as outlined above. For more information on these changes, please refer to the HMRC guidance in this link. new first-year allowance and reducing main rate writing ... Energy An estimated £150 will be cut from annual household domestic energy bills by eliminating or reducing green levies which are usually rolled up in standing charges. This will be funded by the Government cutting the Renewable Obligation Scheme by funding 75% of it, leaving only 25% to be passed on to consumers and the scrapping of Energy Company Obligation (ECO) scheme which forced energy suppliers to fund home energy efficiency improvements such as insulation.

Read the latest European VAT news articles covering VAT in The Digital Age, E invoicing, Customs Reform etc, from multiple websites and sources updated 24/7 Europe VAT News Articles Europe VAT News Articles - Read the latest European VAT news articles from multiple websites and sources covering VAT in the Digital Age (VIDA), E invoicing , Customs Reform, Legislative Changes and much more. VAT Digital. Com Demystifying European VAT

Read our guide on when Intermediary services are covered by the Intermediary VAT Exemption, including what is an intermediary and the HMRC conditions to qualify for the Intermediary exemption. Introduction An intermediary is a supplier of an exempt service which Brings together a person seeking a Financial Service with a person who provides a Financial Service Stands between the parties to a contract and acts in an intermediary capacity, and Undertakes work preparatory to the completion of a contract for the provision of financial services, whether or not it is completed Financial Service Here a Financial Service in relation to intermediaries are those services that fall under the VAT Act 1994 Schedule 9, Group 1,2,3,4 and 6. Work Preparatory Work preparatory to the completion of a contract refers to work done of a specialised nature. This could include helping to set the terms of the contract or making representations on behalf of a client, but would not include work done of a general nature such as administrative or clerical formalities. Note: If you deal in Securities, Even though the issue of securities is not a supply for VAT purposes, the introduction of a person seeking to purchase securities and a person issuing securities (and visa versa) does not have to engage in any preparatory work for the transaction to be Exempt . Services not Covered by the Intermediary Exemption Advertising Market Research Promotional Services Product Design Credit Management for a person granting the credit Financial Investigations Corporate Finance (advisory) Financial Advice only to a client Financial Investigations on behalf of a client Note: Where financial advice results in a customer taking out a financial product where the advice is considered ancillary to the supply of the exempt intermediary service, then the whole supply will be Exempt. If the Financial advice far outweighs the introductory intermediary service, such as where the client has been given a complete financial review and advice, then the service will be standard rated 20%. VAT liability of Intermediary Supplies Intermediary Services supplied to UK customer = Exempt Intermediary Services supplied to Non UK customer = Outside the scope with recovery (Zero Rated) Input VAT Recovery in Relation to Intermediary Supplies Intermediary Services provided to a UK Client (Exempt) = no entitlement to input VAT recovery unless the underlying counter-party is located outside the UK Intermediary Services provided to a non UK client = Outside the Scope with Input VAT entitlement. -Contains public sector information licensed under the Open Government Licence v3.0. Intermediary Services & VAT - Guide on the Intermediary VAT Exemption