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 | |
