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Value Added Tax
Value Added Tax
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From 4th January 2012 |
From 4th January 2011 |
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Rates of Tax |
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20% |
20% |
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Reduced rate (including fuel and power) |
5.00% |
5.00% |
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VAT as a fraction of gross price |
1/6 |
1/6 |
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From 1st April 2012 |
From 1st April 2011 |
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Annual Turnover Limits |
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Registration |
£77,000 |
£73,000 |
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Deregistration |
£75,000 |
£71,000 |
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Private Fuel from 6 April 2007 |
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The calculation of fuel scale charges for private use of road fuel has been altered from engine size to carbon dioxide (CO2) emissions in order to bring it into line with the current personal tax regime. |
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