Value Added Tax

Registration level from 1/5/09 £68,000  
Standard rate from 1/12/08 to 31/12/09 15%
Standard rate from 1/01/10 17.5%  
Reduced rate, eg on domestic fuel  5%
Flat rate scheme turnover limit: £150,000
Cash accounting scheme turnover limit: £1,350,000

© Copyright 22nd April 2009, subject to Finance Act 2009. For information only. Always seek professional advice before acting.