*The Commerce Journal>>>United Kingdom Taxes

What does a quote with 'not subject to vat' mean?

Has the vat been added to the quote, or not?

It means that there is no VAT to pay.

Either the company doesn't make enough to charge VAT, or the goods you are buying are not VATable.

The price you are quoted won't have VAT added to it.

It means there is no vat payable this can be for 2 reasons.

1 he/she is not registered for VAT in which case he should not be stating "not subject to VAT" unregistered people / businesses are not allowed to make any mention of VAT either stating "not subject to VAT", "No VAT" or "No Tax"

The other reason is the product or service you are buying is not taxible, There is no VAT on certain items such as building of Domestic Properties, Printing less than A4 sized, Food (except at takeaway & resturants) medication, adapting properties for disabled,

VAT stands for Value Added Tax... If something is not subject to VAT, then you do not have to pay it as it is not taxable goods. Its a good thing so don't worry... You get to keep the 17.5% they would have otherwise added onto the total.

Its means you dont have to pay Vat on what ever it is that says 'not subject to vat' often applies to foods, or if your buying for a business you can claim that VAT back at the end of the year anyway =D

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