| From 1 April 2012 | From 1 April 2011 | |
| Standard rate | 20% | 20% |
| Standard rate VAT fraction | 1/6 | 1/6 |
| Reduced rate | 5% | 5% |
| Reduced rate VAT fraction | 1/21 | 1/21 |
| Taxable turnover limits | ||
| Registration - last 12 months or next 30 days over | £77,000 | £73,000 |
| Deregistration - next 12 months under | £75,000 | £71,000 |
| Cash accounting scheme - up to | £1,350,000 | £1,350,000 |
| Optional flat rate scheme | ||
| - joining up to | £150,000 | £150,000 |
| - exiting over | £230,000 | £230,000 |
| Annual accounting scheme - up to | £1,350,000 | £1,350,000 |
It is expected that the standard rate of VAT will remain at 20% until 2014.
Cars and your VAT return
VAT scale figures for private use are based on carbon emissions. Please refer here for the scale figures for VAT returns.
Info zone
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Happy customers
"UHY Peacheys understand our business and have provided strategic advice which has helped us maximise our profits and grow year on year. They closely advised us during the Acorn buy-out and ensured they secured the best deal at the best price".
Ross Porter, Managing Director at Draig Personnel
