Value Added Tax

From 1 April 2015
Standard rate 20%
VAT fraction 1/6
Reduced rate 5%
Taxable Turnover Limits
Registration - last 12 months or next 30 days over £82,000 from 1 April 2015
Deregistration - next 12 months under £80,000 from 1 April 2015
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 for which they may use the flat rate valuation.

The table shows the VAT chargeable for quarters commencing on or after 1 May 2014. These rates were current at the date of publication. Please check with us for any updated rates from 1 May 2015.

CO2 emissions
(g/km)
Quarterly VAT
Flat Rate Valuation £ VAT on Charge £
0-50 156.00 26.00
51-75 156.00 26.00
76-94 156.00 26.00
95-99 156.00 26.00
100-104 156.00 26.00
105-109 156.00 26.00
110-114 156.00 26.00
115-199 156.00 26.00
120-124 156.00 26.00
125-129 234.00 39.00
130-134 251.00 41.83
135-139 266.00 44.33
140-144 282.00 47.00
145-149 297.00 49.50
150-154 313.00 52.17
155-159 328.00 54.67
160-164 345.00 57.50
165-169 360.00 60.00
170-174 376.00 62.67
175-179 391.00 65.17
180-184 408.00 68.00
185-189 423.00 70.50
190-194 439.00 73.17
195-199 454.00 75.67
200-204 470.00 78.33
205-209 485.00 80.83
210-214 502.00 83.67
215-219 517.00 86.17
220-224 533.00 88.83
225 or more 548.00 91.33

We work with

subscribe to our newsletter