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Home Resource Centre Tax Tables Value Added Tax

Tax Tables

Value Added Tax

Rates of Tax

2022/23

2021/22

2020/21

Standard rate

20%

20%

20%

Reduced rate

5%

5%

5%

 

 

 

 

Turnover limits

2022/23

2021/22

2020/21

VAT scheme

 

 

 

Registration limit (more than)

£85,000

£85,000

£85,000

Deregistration limit (less than)

£83,000

£83,000

£83,000

 

 

 

 

Flat rate scheme

 

 

 

Registration limit (less than)

£150,000

£150,000

£150,000

Deregistration limit (more than)

£230,000

£230,000

£230,000

 

 

 

 

Cash accounting scheme

 

 

 

Registration limit (less than)

£1,350,000

£1,350,000

£1,350,000

Deregistration limit (more than)

£1,600,000

£1,600,000

£1,600,000

 

 

 

 

Annual accounting scheme

 

 

 

Registration limit (less than)

£1,350,000

£1,350,000

£1,350,000

Deregistration limit (more than)

£1,600,000

£1,600,000

£1,600,000

 

 

 

 


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