VAT

Standard Rate 20%*
Reduced Rate 5%
Annual Registration Limit - from 1.4.17 **
 
£85,000
Annual Deregistration Limit - from 1.4.17
 
£83,000
Cash accounting turnover limit £1,350,000
Annual accounting turnover limit £1,350,000
Flat rate scheme turnover limit for joining £150,000***

*20% w.e.f. 04/01/2011 (previously 17.5% since 01/01/10)

** Please note that the limit applies to any 12 month period, not just your financial year, so you must keep track of your turnover on a rolling 12 month basis if you are likely to be near the threshold.

*** Once in the flat rate VAT scheme, you can stay in until your turnover reaches £230,000.

 

VAT Fuel Scale Charges For 3 Month Periods (for accounting periods beginning on or after 1st May 2017)

CO2 band , g/km  VAT fuel scale charge, 3 month period, (£) VAT on 3 month charge (£) VAT exclusive 3 month charge (£)
< 120 140.00 23.33 116.67
125 211.00 35.17 175.83
130 224 37.33 186.67
135 238 39.67 198.33
140 252 42 210
145 267 44.50 222.50
150 281 46.83 234.17
155 295 49.17 245.83
160 309 51.50 257.50
165 323 53.83 269.17
170 337 56.17 280.83
175 351 58.50 292.50
180 365 60.83 304.17
185 379 63.17 315.83
190 393 65.50 327.50
195 408 68 340
200 422 70.33 351.67
205 436 72.67 363.33
210 449 74.83 374.17
215 463 77.17 385.83
220 478 79.67 398.33
225 or more 492 82 410

To find out how Chapman Robinson & Moore can help your business either call 01865 379272, or click here to arrange a free Confidential Business Analysis.