If you are looking at VAT or planning your finances, please feel free to contact us. We can discuss your specific circumstances to help you plan tax efficiently.
| Standard Rate | 20% |
| Reduced Rate | 5% |
| Annual Registration Limit from 01/04/18 - 31/03/20 | £85,000 |
| Annual Deregistration Limit from 01/04/18 - 31/03/20 | £83,000 |
| Scheme Thresholds | Registration Threshold | Deregistration Threshold |
| Cash Accounting Scheme | £1,350,000 | £1,600,000 |
| Annual Accounting Scheme | £1,350,000 | £1,600,000 |
Businesses with annual taxable turnover of up to £150,000 can register for a Flat Rate Scheme.
They must leave the Flat Rate Scheme once annual taxable turnover exceeds £230,000, or is expected to exceed £230,000 in the next 30 days.
Please contact us for further information.
Disclaimer: This App and its contents have been produced as a helpful reference point. The information should be used as a guide only and your specific circumstances are best discussed directly with us.
No reliance should be placed on this material and no action should be taken without seeking the appropriate professional or legal advice. Although the authors make reasonable efforts to ensure the content of this App is accurate and up-to-date, the authors make no representations, warranties or guarantees that the content is accurate, complete or up-to-date and accept no responsibility whatsoever for any loss occasioned by anyone acting on information within this App.