Value Added Tax |
| From |
|
4 Jan 2011 |
1 Jan 2010 |
| Standard Rate |
|
20% |
17.5% |
| VAT Fraction |
|
1/6 |
7/47 |
| Reduced Rate |
|
5% |
5% |
|
Current Turnover Limits |
| Registration |
- last 12 months or next 30 days over |
£70,000 from 1 April 2010 |
| Deregistration |
- next year under |
£68,000 from 1 April 2010 |
| Annual Accounting Scheme |
|
£1,350,000 |
|
| Cash Accounting Scheme |
|
£1,350,000 |
|
| Flat Rate Scheme |
|
£150,000 |
| |
|
|
|
|
