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Value Added Tax

From
1 April 2018
Standard Rate
20%
VAT fraction
1/6
Reduced Rate
5%
Current Turnover Limits
Registration - last 12 months or next 30 days over £85,000 from 1 April 2018
Deregistration - next 12 months under £83,000 from 1 April 2018
Cash accounting scheme - up to £1,350,000
Optional flat rate scheme - up to £150,000
Annual accounting scheme - up to £1,350,000


VAT on fuel for private use in cars

Where businesses wish to reclaim the input VAT on fuel which has some degree of private use, they must account for output VAT for which they may use the flat rate valuation.

The table shows the VAT chargeable for quarters commencing on or after 1 May 2017. Please contact us for any updated rates.

CO2 emissions
Quarterly VAT
(g/km)
Flat rate
valuation
£
VAT on
charge
£
120 or less
140
23.33
125
211
35.17
130
224
37.33
135
238
39.67
140
252
42.00
145
267
44.50
150
281
46.83
155
295
49.17
160
309
51.50
165
323
53.83
170
337
56.17
175
351
58.50
180
365
60.83
185
379
63.17
190
393
65.50
195
408
68.00
200
422
70.33
205
436
72.67
210
449
74.83
215
463
77.17
220
478
79.67
225 or more
492
82.00