V3.121 Exempt supplies

A supply1 made for a consideration2 which amounts to a supply of goods3 or a supply of services4 is known as an 'exempt supply'5 if it is of a description for the time being specified in VATA 1994, Sch 9. The descriptions in Sch 9 are set out in Division V4.1.

An exempt supply is not a taxable supply (for which see V3.122) and is therefore not subject to a VAT charge6. In certain circumstances an option to tax can be made (ie to opt to convert an exempt supply into a taxable supply) on supplies falling within

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