Value Added Tax

From 4th January 2012

From 4th January 2011

Rates of Tax

Standard rate

20%

Reduced rate (including fuel and power)

5.00%

VAT as a fraction of gross price

1/6

From 1st April 2012

From 1st April 2011

Annual Turnover Limits

Registration

£77,000

£73,000

Deregistration

£75,000

£71,000

Private Fuel from 6 April 2007

The calculation of fuel scale charges for private use of road fuel has been altered from engine size to carbon dioxide (CO2) emissions in order to bring it into line with the current personal tax regime.

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