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Whipsaw Glossary

Currently viewing the definition of: Zero Rated
 
 
 A VAT term that refers to goods which are taxable but at a zero rate. The most significant being books and food. A zero rating means that businesses selling such items can claim back the input VAT paid to their suppliers.  
 


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    • Maxi ISA
      A maxi ISA (Individual Savings Account) is a tax efficient investment plan where all the funds are placed with a single provider in any one tax year. The total amount invested must currently not exceed £7,000. The fund can be split between cash (£3,000), shares (£7,000) and insurance (£1,000).