What are Taxable Supplies?

Taxable supplies are goods and services a UK business provides that fall within the scope of VAT, whether at the standard rate of 20%, reduced rate of 5%, or zero rate of 0%. Taxable supplies count toward the £90,000 VAT registration threshold. Exempt supplies like insurance, finance, and education are outside VAT, and do not count toward the registration threshold, but restrict input VAT recovery on related costs.