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When is VAT charged?

Im anxious to know about VAT as im thinking of running a business in UK?

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    admin

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    Hi

    VAT is charged when all the following 5 conditions are all met:

    1. Supply of goods or services (see notes below)
    2. Taxable supplies
    3. Supplied by UK supplier
    4. Who is taxable person
    5. For business purposes

    As an addition to point 1 above, supply of goods or services:

    -The supply of any form of power, hear, registration, ventilation or water
    -The grant, assignment or surrender of major interest (freehold or leasehold for over 21 years) in land
    -Taking goods for non-business use
    -Transfers under an agreement completing a transfer of ownership such as a hire purchase agreement
    -Business gifts unless
    -The cost top the donor is £50 or less and is not a series o gifts made to the same person or
    -the gift is a sample (an unlimited number of samples is allowed)

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