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VAT - RATES & TURNOVER LIMITS

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The standard rate of VAT is 20%. Some things are exempt from VAT, eg. postage stamps, financial and property transactions. The VAT rate businesses charge depends on their goods and services.

RATES AND LIMITS From 1.4.2017 From 1.4.2018 From 1.4.2019
Standard rate 20% 20% 20%
Reduced rate 5% 5% 5%
Annual registration limit £85,000 £85,000 £85,000
Annual de-registration limit £83,000 £83,000 £83,000
Cash & annual accounting turnover limit £1.35m £1.35m £1.35m
Cash & annual accounting - exit turnover £1.6m £1.6m £1.6m
Flat rate schemes - entry turnover limit £150,000 £150,000 £150,000
Flat rate schemes - exit turnover limit £230,000 £230,000 £230,000

The VAT registration threshold is been frozen at £85,000 until April 2022.

 

We offer a comprehensive VAT service including assessing the benefits and disadvantages of registration, deciding on the most appropriate scheme and attending to VAT registration.

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Registered office: 61 Friar Gate, Derby, Derbyshire, DE1 1DJ

Adrian Mooy & Co is the trading name of Adrian Mooy & Co Ltd.  Registered in England No. 05770414

Registered to carry out audit work by the Association of Chartered Certified Accountants - auditregister.org.uk 8011438

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01332 202660

61 Friar Gate  Derby  DE1 1DJ

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