Budget 2012 – Annual Tax Rates and Allowances

Value Added Tax - GT

Value Added Tax

Rates
For transactions after 3 January 2011
Standard 20% Reduced 5% Zero 0%


Annual thresholds
2012/2013
2011/2012
Registration £77,000 £73,000
De-registration £75,000 £71,000
Cash accounting scheme £1,350,000 £1,350,000
Annual accounting scheme £1,350,000 £1,350,000
Flat rate schemes1 £150,000 £150,000

1 Separate scheme available for farmers (no turnover limit).

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