Value added tax (VAT) | Practical Law
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Value added tax (VAT)
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Value added tax (VAT)
Practical Law UK Glossary 5-107-7468
(Approx. 3 pages)
Glossary
Value added tax (VAT)
A tax on supplies of goods and services made by a
taxable person
in the course or furtherance of a business. It is administered by
HM Revenue & Customs (HMRC)
.
For further information, see
Practice note, VAT: overview
.