Zero Rated
Zero rated is a term used in relation to VAT. Most goods and services attract VAT (Value Added Tax) at the standard rate, but certain categories have 0% applied to them. These categories are generally those deemed to be 'essential', such as food, medicines, water services, clothing, and books.
There are exceptions within these categories which are charged at the full rate, and some other items outside of these categories are charged at 0% - it is always a very good idea to consult an accountant on any aspect of your business involving VAT.
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