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Publications: VAT Zero Rating

Answer

The estimates of the Exchequer costs of the requested VAT reliefs in 2023-24 are as follows.

The estimate of the cost of zero-rating printed matter and e-publications, which includes books, was £1,700m. The objective of this relief is to support literacy and reading by reducing the cost of books, newspapers, magazines etc. in printed and electronic form.

The estimate of the cost of zero-rating children’s clothing and protective footwear and helmets was £2,100m. The objective of this relief is to support families by reducing the cost of children’s clothing.

The estimated cost of the exemption for burial and cremation was £720m. This relief provides exemption from VAT for burial and exemption services.

These estimates, together with those for previous years, may be found in the Tax Relief Statistics published by HM Revenue and Customs on GOV.UK . The latest estimates were published in December 2023 with values for financial year 2023-24 being forecasts. Updated estimates will be published on 5 December 2024.

Secondary information

Type

Written question

Reference

HL2473

Session

2024-26

Grouped for answer

Yes

Subjects

Publications VAT zero rating

Contains statistics

Yes

Link

View this Written question on www.parliament.uk