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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|
|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.
Registered office: 61 Friar Gate, Derby, Derbyshire, DE1 1DJ T: 01332 202660
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
61 Friar Gate Derby DE1 1DJ