Vat On Ebooks Uk Budget

Vat on digital publications abolished.

Vat on ebooks uk budget. Now ebooks enewspapers emagazines and academic ejournals will be entitled to the same vat treatment as their physical counterparts. This will be good news for those in the publishing and. This has been brought forward from december 2020 the original date announced in the budget.

Since the tax was introduced in 1973 printed. Vat on e books and newspapers scrapped. Chancellor rishi sunak has used his first budget to announce the abolition of what he called the reading tax stating that there would be no vat charged on books magazines or journals regardless of format from 1 december.

The uk government will change the vat rate applied to epublications bringing it down from the current 20 to 0 from 1 december 2020. Rishi sunak said the zero rate of vat will now apply to all e publications from tomorrow 1 may 2020 seven months ahead of schedule potentially slashing the cost of a 12 e book by 2 and. Money sunak who made the announcement as he delivered the budget said that vat on digital publications including books newspapers magazines and academic journals will be scrapped from.

The government will abolish the 20 reading tax on ebooks and online newspapers from december although it is unclear whether publishers will pass the full saving on to customers. Chancellor rishi sunak has announced the 20 tax on e books and online newspapers magazines and journals will be abolished on 1 december. The new e books vat rate is in effect from may 2020.

Under the old rules no vat was collected on print books sold in the uk while 20 of the price of an ebook was paid to the uk government. This is from the standard rate of 20 to the zero rate.