Tel: 0161 834 2574
Freedman Frankl & Taylor
Reedham House
31 King Street West
Manchester
M3 2PJ
tel: 0161 834 2574
fax: 0161 831 7608
email: info@fft.co.uk
Reedham House
31 King Street West
Manchester
M3 2PJ
tel: 0161 834 2574
fax: 0161 831 7608
email: info@fft.co.uk
UK200 Group is an association of separate and independently owned and managed accountancy and lawyer firms
VAT Rates
| From 1 April 2011 |
From 4 January 2011 |
From 1 April 2010 |
|
| Standard rate | 20% | 20% | 17.5% |
| Standard rate VAT fraction | 1/6 | 1/6 | 7/47 |
| Reduced rate | 5% | 5% | 5% |
| Reduced rate VAT fraction | 1/21 | 1/21 | 1/21 |
| Taxable turnover limits | |||
| Registration - last 12 months or next 30 days over | £73,000 | £70,000 | £70,000 |
| Deregistration - next 12 months under | £71,000 | £68,000 | £68,000 |
| Cash accounting scheme - up to | £1,350,000 | £1,350,000 | £1,350,000 |
|
Optional flat rate scheme - joining up to - exiting over |
£150,000 £230,000 |
£150,000 £230,000 |
£150,000 £225,000 |
| Annual accounting scheme - up to | £1,350,000 | £1,350,000 | £1,350,000 |
Flat Rate Scheme
Your business may be eligible to join the flat rate VAT scheme. This is designed to save businesses administration time but could also result in a cash saving. See HMRC for the appropriate percentage for your business. For more details contact a partner.