The current VAT percentages and the annual registration and deregistration thresholds.

Registered businesses charge Value Added Tax (VAT) on their sales. This is known as output VAT and the sales are referred to as outputs.

Similarly VAT is charged on most goods and services purchased by the business. This is known as input VAT.

There are three rates: standard which applies to most goods and services, reduced rate for some goods and services such as home energy and zero rate goods and services, for example, most food and children’s clothes.

Some supplies are exempt from VAT for example postage stamps, financial and insurance transactions.

A business is required to register for VAT if the value of taxable supplies exceeds the annual registration limit.

The government has frozen the VAT registration and deregistration limits until 1 April 2022.

Rates

Standard: 20% (unchanged from 2019/20)

Reduced: 5% (unchanged from 2019/20)

Limits

Annual Registration Limit (1.4.20 to 31.3.21): £85,000 (unchanged from 2019/20)

Annual Deregistration Limit (1.4.20 to 31.3.21): £83,000 (unchanged from 2019/20)

13 Replies to “Value added tax”

  1. order androxal generic version

    get androxal generic is it safe

  2. enclomiphene sales in US

    get enclomiphene price for prescription

  3. rifaximin pills from canada

    how to buy rifaximin generic new zealand

  4. get xifaxan usa sales

    order xifaxan generic sale

  5. how to order staxyn cheap with fast shipping

    order staxyn on line

  6. order avodart canada shipping

    discount avodart without prescriptions uk

  7. online order dutasteride purchase to canada

    cheapest price for generic dutasteride without prescription

  8. buy cheap flexeril cyclobenzaprine generic ireland

    how to buy flexeril cyclobenzaprine price canada

  9. no prescription next day delivery gabapentin

    get gabapentin cost on prescription

  10. cheapest buy fildena canada with no prescription

    online order fildena price on prescription

  11. buy cheap itraconazole price netherlands

    buy itraconazole generic extended release

  12. kde si mohu koupit kamagra samostatně

    kamagra z kanadských lékáren

  13. kamagra canada échantillon gratuit

    sans ordonnance kamagra commander

Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>