Value Added Tax – Budget Report 18 March 2015

 

Value Added Tax

From 1 Apr 2015
Standard rate 20%
VAT fraction 1/6
Reduced Rate 5%
Current Turnover Limits
Registration – last 12 months or next 30 days over £82,000 from 1 April 2015
Deregistration – next 12 months under £80,000 from 1 April 2015
Annual accounting scheme £1,350,000
Cash Accounting Scheme £1,350,000
Flat-rate scheme £150,000

 

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