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Budget 2009 - Indirect Taxation
Value Added Tax
| Rates | % |
|
|---|---|---|
| Standard | 17½1 | |
| Reduced | 5 | |
| Zero | 0 | |
| Annual registration and de-registration thresholds | ||
| From 1 May 2009 | From 1 April 2008– 30 April 2009 | |
| Registration | £68,000 | £67,000 |
| De-registration | £66,000 | £65,000 |
| Special schemes maximum annual taxable turnover | ||
| Cash accounting scheme | £1,350,000 | £1,350,000 |
| Annual accounting scheme | £1,359,000 | £1,350,000 |
| Flat rate schemes2 | £150,000 | £150,000 |
1 15% for transactions between 1 December 2008 and 31 December 2009.
2 Separate scheme available for farmers (no turnover limit).
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