Value Added Tax

  Increase Date
  4 January 2011 1 January 2010
Standard Rate 20% 17.50%
VAT Fraction 1/6 7/47
Reduced Rate 5% 5%
     
Turnover Limits    
Registration Level from 1/4/2017    
Turnover in last 12 months or next 30 days over £85,000  
Deregistration Level from 1/4/2017    
Turnover in next 12 months under £83,000  
Flat rate scheme turnover limit £150,000  
Cash and annual accounting schemes £1,350,000  

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