Value Added Tax

Registration level from 1/4/10 £70,000
Standard rate from 1/1/10 17.5%
Reduced rate, eg on domestic fuel 5%
Flat rate scheme turnover limit £150,000
Cash and annual accounting schemes turnover limit £1,350,000

© Copyright 24th March 2010, subject to Finance Act 2010. For information only. Always seek professional advice before acting.