VAT rates
|
|
Rate
|
|
Standard rate
From 4/1/11
1/1/10 to 3/1/11
|
20%
17.5%
|
|
Reduced rate
|
5%
|
|
Zero rate
|
Zero
|
VAT fraction
20% 1/6
17.5% 7/47
VAT registration and deregistration thresholds
|
|
From 1 April 2012
|
From 1 April 2011 - 31 March 2012
|
1 April 2010 - 31 March 2011
|
|
Registration threshold
|
£77,000
|
£73,000
|
£70,000
|
|
De-registration threshold
|
£75,000
|
£71,000
|
£68,000
|
Flat rate scheme
Turnover limit £150,000
Business must leave the flay rate scheme when turnover exceeds £225,000 (£230,000 from 4/1/11).
CASH and annual accounting schemes
Turnover limit £1,350,000
VAT fuel scale charges
Annual charges – prescribed accounting periods beginning on or after 1 May 2012
|
CO2 band
|
VAT fuel scale charge (inclusive of VAT)
|
VAT element
(VAT 20%)
|
|
120 or less
|
£665.00
|
£110.83
|
|
125
|
£1,000.00
|
£166.67
|
|
130
|
£1,065.00
|
£177.50
|
|
135
|
£1,135.00
|
£189.17
|
|
140
|
£1,200.00
|
£200.00
|
|
145
|
£1,270.00
|
£200.00
|
|
150
|
£1,335.00
|
£222.50
|
|
155
|
£1,400.00
|
£233.33
|
|
160
|
£1,470.00
|
£245.00
|
|
165
|
£1,535.00
|
£255.83
|
|
170
|
£1,600.00
|
£266.67
|
|
175
|
£1,670.00
|
£278.33
|
|
180
|
£1,735.00
|
£289.17
|
|
185
|
£1,800.00
|
£300.00
|
|
190
|
£1,870.00
|
£311.67
|
|
195
|
£1,935.00
|
£322.50
|
|
200
|
£2,000.00
|
£333.33
|
|
205
|
£2,070.00
|
£345.00
|
|
210
|
£2,125.00
|
£355.83
|
|
215
|
£2,200.00
|
£366.67
|
|
220
|
£2,270.00
|
£378.33
|
|
225 or more
|
£2,335.00
|
£389.17
|
The VAT scale charges charge the private use of road fuel where a business recovers input tax on fuel used for private motoring.
To determine the correct scale charge, actual CO2 emissions are rounded down to the nearest 5g/km.
HMRC also publish quarterly and monthly figures.