Value Added Tax
Vat Rates
Standard Rate | 20% |
Reduced Rate | 5% |
Annual Registration Limit | £83,000 |
Annual Deregistration Limit | £81,000 |
Vat Fuel Scale charge
Where businesses buy fuel which has some degree of private use, they must account for output VAT on a scale charge. This is based on the CO2 emissions (rounded down to the next multiple of 5).
These are the charges which apply from the start of the first prescribed accounting period beginning on or after 1 May 2014.
Co2 emissions(g/km) |
From 1 May 2017 |
From 1 May 2016 | |
120 or less | 38 | ||
125 | 58 | ||
130 | 61 | ||
135 | 65 | ||
140 | 69 | ||
145 | 73 | ||
150 | 77 | ||
155 | 81 | ||
160 | 85 | ||
165 | 89 | ||
170 | 92 | ||
175 | 96 | ||
180 | 101 | ||
185 | 104 | ||
190 | 108 | ||
195 | 112 | ||
200 | 116 | ||
205 | 120 | ||
210 | 123 | ||
215 | 128 | ||
220 | 132 | ||
225 or more | 135 | ||
Recent Posts
- Autumn Budget 22 November 2017 – Key Points
Hammonds ‘Balanced approach’ – the key points:
Business
£500m to go towards a 5G mobile network, fibre broadband and AI
1% increase in Benefit in Kind on diesel company cars
Vehicle Excise Duty to go up by 1 band from 2018 on cars that don’t meet the standard
Northern IrelandExtra £650m to […]
- Key Points Spring Budget 2017
The Spring budget was presented by Mr Philip Hammond on 8th March 2017.
A summary of the main points are noted below:
Class 4 National Insurance to increase from 9% to 10 % in April 2018 and to go up to 11% in April 2019. All class 4 earnings above £43,000 will continue […]
- Married Couples Allowance
Transfer unused tax allowance to save up to £212.00 in tax year 2015/16
If you are a married couple or are in a civil partnership, you may qualify for couples tax relief worth up to £212 in 2015/16.
Who does this apply to?
This tax relief is available to married couples and couples in a […] - Budget 2016 – Key Points
Sugar levy on soft drinks
This aims to raise £520m in a two-part levy on companies – one for total sugar content above 5g per 100ml and one for drinks with more than 8g per 100ml – to be introduced in two years’ time. Pure fruit juice and milk are excluded. It will be used […] - National Living Wage
The 1 April 2018 the National Living Wage (NLW) for workers aged 25 and above will increase to £7.83 per hour. The current National Minimum Wage for those under the age of 25 will continue to apply and the rates set from 1 April 2018 can be found here National Minimum Wage Rates .The Government’s objective is to have a […]
- Autumn Budget 22 November 2017 – Key Points