Value Added Tax
| From |
1 April 2007 |
1 April 2008 |
| Standard rate |
17.5% |
17.5% |
| VAT fraction |
7/47 |
7/47 |
| Taxable Turnover Limits From |
1 April 2007(£) |
1 April 2008(£) |
| Registration - last 12 months or next 30 days over |
64,000 |
67,000 |
| Deregistration - next 12 months under |
62,000 |
65,000 |
| 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 |
Disclaimer
This data for legislative rates is for information purposes only and PG Business Solutions are not responsible for actions taken or not taken in
respect of information provided. Should you wish to know more about how they affect you or your business liability then please contact us for specified
tailored advice suited to your individual circumstances. Errors and omissions in this information are excepted.
