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Online Resources > Tax Rates & Allowances >
Value Added Tax
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From
1 April 2008 |
From
1 April 2007 |
|
Standard
Rate |
17.5% |
17.5% |
|
VAT
Fraction |
7/47 |
7/47 |
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| Lower
Rate |
5% |
5% |
|
| Registration
level |
£67,000
pa |
£64,000
pa |
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Deregistration
limit
|
£65,000
pa |
£62,000
pa |
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Cash
accounting scheme
- up to |
£1,350,000 |
£1,350,000 |
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Optional
flat rate scheme - up to |
£150,000 |
£150,000 |
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Annual
accounting scheme - up to |
£1,350,000 |
£1,350,000 |
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| VAT fuel scale charge from 1 May 2008 |
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CO2 Band |
Scale charge per Quarter £ |
VAT on quarterly charge £ |
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120 or below |
138 |
20.55 |
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121-139 |
207 |
30.83 |
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140-144 |
221 |
32.91 |
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145-149 |
234 |
34.85 |
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150-154 |
248 |
36.94 |
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155-159 |
262 |
39.02 |
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160-164 |
276 |
41.11 |
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165-169 |
290 |
43.19 |
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170-174 |
303 |
45.13 |
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175-179 |
317 |
47.21 |
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180-184 |
331 |
49.30 |
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185-189 |
345 |
51.38 |
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190-194 |
359 |
53.47 |
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195-199 |
373 |
55.55 |
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200-204 |
386 |
57.49 |
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205-209 |
400 |
59.57 |
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210-214 |
414 |
61.66 |
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215-219 |
428 |
63.74 |
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220-224 |
442 |
65.83 |
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225-229 |
455 |
67.77 |
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230-234 |
469 |
69.85 |
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235 and above |
483 |
71.94 |
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