VAT

Standard rate*

20%

Reduced rate

5%

Zero rate

0%

Annual registration limit (from 1 April 2021)

£85,000

Annual deregistration limit (from 1 April 2021)

£83,000

VAT Cash accounting scheme threshold

£1,350,000

VAT Annual accounting scheme threshold

£1,350,000

 * 5% for tourism and hospitality sector to 30 September 2021 then 12.5% up to 31 March 2022.

Disclaimer

In preparing and maintaining this section of our website every effort has been made to ensure the content is up to date and accurate. However, the law and regulations change continually, and unintentional errors can occur, and the information may be neither up to date nor accurate. We make no representation or warranty (including liability towards third parties), express or implied, as to the accuracy, reliability or completeness of the information on the website. Please don’t act directly on anything you read - contact us first for advice on how it may affect your individual circumstances.