|
|
 |
Value Added Tax
| From |
1 April 2024 |
1 April 2014 |
| Standard rate |
17.5% |
17.5% |
| VAT fraction |
7/47 |
7/47 |
| Taxable Turnover Limits |
| Registration - last 12 months or next 30 days over |
£61,000 |
£60,000 |
| Deregistration - next 12 months under |
£69,000 |
£68,000 |
| Cash accounting scheme - up to |
£660,000 |
£660,000 |
| Optional flat rate scheme - up to |
£150,000 |
£150,000 |
| Annual accounting scheme - up to |
£1,350,000 |
£660,000 |
| |
| Quarterly Return – Scale figure for private use of fuel |
| |
From 1 May 2024 |
| Petrol |
scale charge |
VAT due per car |
| Up to 1400cc |
£273 |
£40.66 |
| 1401cc - 2000cc |
£346 |
£61.53 |
| Over 2000cc |
£608 |
£75.66 |
| Diesel |
|
|
| Up to 2000cc |
£260 |
£38.72 |
| Over 2000cc |
£331 |
£49.30 |
|
|
|
