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Value Added Tax

 

 From  4 Jan 2011  
 Standard rate 20%   
 VAT fraction 1/6   
 Reduced rate 5%   
     
 Taxable Turnover Limits    
 Registration - last 12 months or next 30 days over £77,000 from 1 April 2012  
 Deregistration - next 12 months under £75,000 from 1 April 2012  
 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 on a scale charge.

The table shows the VAT chargeable for quarters commencing on or after 1 May 2012.

 Quarterly VAT
 CO2 emissions
(g/km)		  Fuel scale
charge £		  VAT on charge
£ (20%)
 Up to 124 166 27.67
 125-129 250 41.67
 130-134 266 44.33
 135-139 283 47.17
 140-144 300 50.00
 145-149 316 52.67
 150-154 333 55.50
 155-159 350 58.33
 160-164 366 61.00
 165-169 383 63.83
 170-174 400 66.67
 175-179 416 69.33
 180-184 433 72.17
 185-189 450 75.00
 190-194 467 77.83
 195-199 483 80.50
 200-204 500 83.33
 205-209 517 86.17
 210-214 533 88.83
 215-219 550 91.67
 220-224 567 94.50
 225 and above 583 97.17