2018/19 Value Added Tax

From 1st 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 1st April 2018
Deregistration – next 12 months under £83,000 from 1st April 2018
Annual and Cash Accounting Schemes £1,350,000
Flat Rate Scheme £150,000