| Standard rate |
17.5%
|
| Standard rate VAT fraction |
7/47
|
| Reduced rate, eg on domestic fuel |
5%
|
| Reduced rate VAT fraction |
1/21
|
| Turnover Thresholds |
From
1 April 2008
|
From
1 April 2007
|
| Registration - last 12 months or next 30 days over |
£67,000
|
£64,000
|
| Deregistration - coming year under |
£65,000
|
£62,000
|
| Cash Accounting Threshold |
£1,350,000
|
£1,350,000
|
| Flat Rate Scheme Threshold |
£150,000
|
£150,000
|
| Annual Accounting Threshold |
£1,350,000
|
£1,350,000
|