Chartered Certified Accountants
 

Home > Useful Information > Tax Rates and Allowances > Value Added Tax

 

Value Added Tax

Standard rate

 

20%

VAT fraction

 

1/6

Reduced rate

 

5%

Taxable turnover limits:

 

 

Registration – last 12 months or next 30 days over

 

£79,000

De-registration – next 12 months under

 

£77,000

Annual Accounting Scheme

 

£1,350,000

Cash Accounting Scheme

 

£1,350,000

Flat Rate Scheme

 

£150,000

 


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