Quote:
Originally Posted by cybmole
straying off topic but its a good wheeze for banks also ( I used to work for a bank). their core "services" are all zero rated, but they claim vat back on all the IT hardware that they buy!
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Staying off topic, banks core "services" are exempt from VAT not zero rated, and you can't claim VAT back on any expenses related to exempt supplies. The VAT on IT hardware will still be accounted for by the banks, since a tiny fraction of the bank's services are taxable, so they can claim back on that tiny fraction.
But back on topic, I think anyone who buys an ex-demo e-reader is mad.