Value Added Tax Rates

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Value Added Tax

Coins


		From 1 April 2007	From 1 April 2006
Standard Rate		17.5%	17.5%
VAT Fraction		7/47	7/47
Lower Rate		5%	5%
Registration level		£64,000 pa	£61,000 pa
Deregistration limit		£62,000 pa	£59,000 pa
Cash accounting scheme - up to		£1,350,000	£660,000
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 2007
A new system is introduced so that the scale charges relate to C02 emissions only.
		CO2 Band	Scale charge per Quarter £	VAT on quarterly charge £
		140 or below	182	27.11
		145	195	29.04
		150	207	30.83
		155	219	32.62
		160	231	34.40
		165	243	36.19
		170	256	38.13
		175	268	39.91
		180	280	41.70
		185	292	43.49
		190	304	45.28
		195	317	47.21
		200	329	49.00
		205	341	50.79
		210	353	52.57
		215	365	54.36
		220	378	56.30
		225	390	58.09
		230	402	59.87
		235	414	61.66
		240 or above	426	63.45
VAT fuel scale charges from 1 May 2006 (before 1 May 2007)
	Quarterly Returns Scale Charge
Cylinder capacity of vehicle	Petrol £	VAT £	Diesel £	VAT £
Up to 1400cc	273	40.66	260	38.72
1401cc to 2000cc	346	51.53	260	38.72
Over 2000cc	508	75.66	331	49.30

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