The latest VAT Rates are detailed in the table below:
| From 1 April 2021 | |
|---|---|
| Standard rate | 20% |
| Standard rate VAT fraction | 1/6 |
| Reduced rate | 5% |
| Reduced rate VAT fraction | 1/21 |
| Temporary reduced rate* | 12.5% |
| Registration – last 12 months or next 30 days over | £85,000 |
| Deregistration – next 12 months under | £83,000 |
| Cash accounting scheme – up to | £1,350,000 |
| Optional flat rate scheme | £150,000 |
| – joining up to | £150,000 |
| – exiting over | £230,000 |
| Annual accounting scheme – up to | £1,350,000 |
*Applies in the hospitality and tourism sector from 1 October 2021 to 31 March 2022.
VAT Flat Rate Scheme
Please visit the following page for the VAT Flat Rate Scheme Percentages.
Cars and your VAT return
The VAT Scale Charge is a private use adjustment based on carbon emissions, please refer to the VAT Scale Charge Rates page to get the rates for your VAT returns.
VAT Penalties
Please visit the following page for a summary of VAT Penalties for Late VAT Registration, Errors on VAT Returns and Late Submission of VAT Returns.
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