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
|
£73,000 |
|
De-registration – next 12 months under
|
£71,000 |
|
Annual Accounting Scheme
|
£1,350,000 |
|
Cash Accounting Scheme
|
£1,350,000 |
|
Flat Rate Scheme
|
£150,000 |
Tax Rates and Allowances
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