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VAT Facts & Figures
Last Updated on Monday, 15 February 2010 22:13
VAT Registration & Deregistration Thresholds:
| Dates | Registration | Deregistration |
| 1/5/09 - | £68,000 |
£66,000 |
| 1/4/08 - 30/4/09 | £67,000 | £65,000 |
| 1/4/07 - 31/3/08 | £64,000 | £62,000 |
| 1/4/06 - 31/3/07 | £61,000 | £59,000 |
| 1/4/05 - 31/3/06 | £60,000 | £58,000 |
| 1/4/04 - 31/3/05 | £58,000 | £54,000 |
Cash Accounting Scheme Limit
For joining: £1,350,000 (£660,000 prior to 1/4/07). Once on the scheme, you must leave the scheme if your turnover exceeds £1,600,000 (£825,000 prior to 1/4/07).
Annual Accounting Scheme
For joining: £1,350,000 (£660,000 between 1/4/04 and 31/3/06). Once on the scheme, you must leave the scheme if your turnover exceeds £1,600,000 (£825,000between 1/4/04 and 31/3/06).
Flat Rate Scheme for Small Businesses
For joining: Taxable (Standard, Reduced and Zero Rate) supplies of up to £150,000 and total UK income (including VAT Exempt and non-business income) of up to £187,500.
Remember, you cannot join the FRS if you are "associated" with another business.
You must leave the FRS if your total income on the anniversary of joining exceeds £225,000 or you breach one of the other conditions (such as you become "associated" with another business.
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- @LindaSOC_VAT (When I worked at HMRC my then wife spearheaded the use of the off-white recycled paper that's now used by the whole dept.) - 01/02/12 13:02 - View »
- @LindaSOC_VAT And, as a tax payer, I whole heartedly agree with it. I'm still not buying expensive ones to reply with tho. :) - 01/02/12 13:02 - View »
- I refuse to use posh white envelopes for my letters to HMRC given the cheap flimsy brown things they use for their letters to me. - 01/02/12 11:02 - View »
- What is it with France & it's odd VAT rates? 19.6% currently & going up to 21.2% in October. And don't get me started on it's reduced rates. - 31/01/12 22:01 - View »