Value Added Tax

From	4 Jan 2011	1 Jan 2010
Standard rate	20%	17.5%
VAT fraction	1/6	7/47
Reduced rate	5%	5%
Taxable Turnover Limits
Registration - last 12 months or next 30 days over	£73,000 from 1 April 2011
Deregistration - next 12 months under	£71,000 from 1 April 2011
Cash accounting scheme - up to	£1,350,000
Optional flat rate scheme - up to	£150,000
Annual accounting scheme - up to	£1,350,000

VAT on fuel for private use in cars

Where businesses wish to reclaim the input VAT on fuel which has some degree of private use, they must account for output VAT on a scale charge.

The table shows the VAT chargeable for quarters commencing on or after 1 May 2011.

CO2 emissions (g/km)	Quarterly VAT
	Fuel scale charge £	VAT on charge £ (20%)
Up to 124	157	26.17
125-129	236	39.33
130-134	252	42.00
135-139	268	44.67
140-144	283	47.17
145-149	299	49.83
150-154	315	52.50
155-159	331	55.17
160-164	346	57.67
165-169	362	60.33
170-174	378	63.00
175-179	394	65.67
180-184	409	68.17
185-189	425	70.83
190-194	441	73.50
195-199	457	76.17
200-204	472	78.67
205-209	488	81.33
210-214	504	84.00
215-219	520	86.67
220-224	536	89.33
225 and above	551	91.83