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Tax Information > The Budget Report 2013 >

Value Added Tax (VAT)

From
1 April 2013
Standard rate
20%
VAT fraction
1/6
Reduced rate
5%
Current Turnover Limits
Registration - last 12 months or next 30 days over
£79,000 from 1 April 2013
Deregistration - next 12 months under
£77,000 from 1 April 2013
Annual Accounting Scheme
£1,350,000
Cash Accounting Scheme
£1,350,000
Flat Rate Scheme
£150,000