| From |
From
4 Jan 2011
|
From
1 Jan 2010
|
| Standard rate * |
20%
|
17.5%
|
| Standard rate VAT fraction |
1/6
|
7/47
|
| Reduced rate, eg on domestic fuel |
5%
|
| Reduced rate VAT fraction |
1/21
|
| Turnover Thresholds |
From
1 April 2011
|
From
4 Jan 2011
|
From
1 April 2010
|
| Registration - last 12 months or next 30 days over |
£73,000
|
£70,000
|
£70,000
|
| Deregistration - coming year under |
£71,000
|
£68,000
|
£68,000
|
| Cash Accounting Threshold |
£1,350,000
|
£1,350,000
|
£1,350,000
|
| Flat Rate Scheme Threshold - joining up to |
£150,000
|
£150,000
|
£150,000
|
| Flat Rate Scheme Threshold - exiting over |
£230,000
|
£230,000
|
£225,000
|
| Annual Accounting Threshold |
£1,350,000
|
£1,350,000
|
£1,350,000
|