VAT rates
| From 1 April 2011 |
From 4 January 2011 |
From 1 April 2010 |
|
| Standard rate | 20% | 20% | 17.5% |
| Standard rate VAT fraction | 1/6 | 1/6 | 7/47 |
| Reduced rate | 5% | 5% | 5% |
| Reduced rate VAT fraction | 1/21 | 1/21 | 1/21 |
| Taxable turnover limits | |||
| Registration - last 12 months or next 30 days over | £73,000 | £70,000 | £70,000 |
| Deregistration - next 12 months under | £71,000 | £68,000 | £68,000 |
| Cash accounting scheme - up to | £1,350,000 | £1,350,000 | £1,350,000 |
|
Optional flat rate scheme - joining up to - exiting over |
£150,000 £230,000 |
£150,000 £230,000 |
£150,000 £225,000 |
| Annual accounting scheme - up to | £1,350,000 | £1,350,000 | £1,350,000 |
Did you know?
That the Government expect to receive £100.3bn from VAT in 2011/12 (2010/11 £86.1bn)
Cars and your VAT return
VAT scale figures for private use are now based on carbon emissions. Please refer here for the scale figures for one month, three month, and annual VAT returns.
- About Us
- Our Services
- Recruitment
- Business
- Personal
- Tax
- Year end tax planning
- Regulation changes from April 2011
- Financial planning guide
- Tax rates and allowances
- VAT
- PAYE and NI
- IR35 Centre
- Tax and business calendar
- Minimising capital taxes
- Offshore issues update
- Autumn Statement 2011
- Budget archive
- Finance Bill 2012
- Paying less income tax
- The Finance Bill 2011
- Tax efficient investments
- Tax planning for business owners
- Calculators
- Site map
Contact Us
12 - 14 Carlton Place
Southampton
Hampshire
SO15 2EA
Telephone: 023 8023 4222
Facsimile: 023 8023 4888
E-mail: info@hjsaccountants.co.uk
Fees:
Because businesses are as individual as the people who run them, fees are agreed in advance, based on your own requirements.