VAT Rates


From 1 Jan 2010 1 Dec 2008
Standard rate 17.5% 15%
VAT fraction 7/47 3/23
Reduced Rate 5% 5%
Current Turnover Limits
Registration - last 12 months or next 30 days over £70,000 from 1 April 2010
Deregistration - next 12 months under £68,000 from 1 April 2010
Annual accounting scheme £1,350,000
Flat rate scheme £150,000
Cash accounting scheme £1,350,000