Estimated value of the annual taxable turnover and the non-taxable turnover

Taxable turnover for VAT is the total value of supplies that are taxed at either the standard, reduced or zero rate. (The supply of goods and services that are exempt from VAT is not included in taxable turnover.)

Non taxable turnover for VAT will be the total value of supplies that are for example:

• Exempt from VAT - some goods and services are exempt from VAT, such as insurance and finance, education and training, and charitable fund-raising events.
• Outside the scope of UK VAT - some goods and services aren't in the UK VAT system at all - they're outside the scope of VAT. They are not taxable supplies and no VAT is charged on them.