VAT

Value Added Tax

VAT	From 1 Jan 2010	From 1 Dec 2008
Standard rate	17.5%	15%
Vat fraction	7/47	3/23
Taxable turnover limits	From 1 April 2010	From 1 May 2009
Registration – last 12 months or next 30 days over	£70,000	£68,000
Deregistration – next 12 months under	£68,000	£66,000
Cash accounting scheme	£1,350,000	£1,350,000
Flat rate scheme	£150,000	£150,000

Note:

This has been written for the general interest of our clients. It is therefore essential to take advice on specific issues. We believe the facts are correct but there may be certain errors and omissions for which we cannot be held responsible.

Tax Information

Value Added Tax