Graeme M Fraser & Company - Chartered Accountants

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Value Added Tax

Coins
 
  From
1 April 2008 		From
1 April 2007 		 
Standard Rate
17.5%
15.0% from 1/12/08 to 31/12/09
17.5%
  
VAT Fraction
7/47
3/23 from 1/12/08 to 31/12/09
7/47
  
Lower Rate
5%
5%
  
Registration level
£67,000 pa
£64,000 pa
  
Deregistration limit
£65,000 pa
£62,000 pa
  
Cash accounting scheme - up to
£1,350,000
£1,350,000
  
Optional flat rate scheme - up to
£150,000
£150,000
  
Annual accounting scheme - up to
£1,350,000
£1,350,000
  

For further information on the vat rate change and how to deal with it, HMRC have released a detailed guide to the vat rate change.

  
       
VAT fuel scale charge from 1 May 2008      
  CO2 Band Scale charge per Quarter £ VAT on quarterly charge £
  120 or below 138 20.55
  121-139 207 30.83
  140-144 221 32.91
  145-149 234 34.85
  150-154 248 36.94
  155-159 262 39.02
  160-164 276 41.11
  165-169 290 43.19
  170-174 303 45.13
  175-179 317 47.21
  180-184 331 49.30
  185-189 345 51.38
  190-194 359 53.47
  195-199 373 55.55
  200-204 386 57.49
  205-209 400 59.57
  210-214 414 61.66
  215-219 428 63.74
  220-224 442 65.83
  225-229 455 67.77
  230-234 469 69.85
  235 and above 483 71.94
   
VAT fuel scale charge from 1 Dec 2008      
  CO2 Band Scale charge per Quarter £ VAT on quarterly charge £
  120 or below 138 18.00
  121-139 207 27.00
  140-144 221 32.91
  145-149 234 30.52
  150-154 248 32.35
  155-159 262 34.17
  160-164 276 36.00
  165-169 290 37.83
  170-174 303 39.52
  175-179 317 41.35
  180-184 331 43.17
  185-189 345 45.00
  190-194 359 46.83
  195-199 373 48.65
  200-204 386 50.35
  205-209 400 52.17
  210-214 414 54.00
  215-219 428 55.83
  220-224 442 57.65
  225-229 455 59.35
  230-234 469 61.17
  235 and above 483 63.00
       
 
   

 
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