Power Thompson Chartered Accountants

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Value Added Tax

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