VAT is a tax on sales of goods and services. You must register if your turnover is over the threshold (see opposite).

Not all goods and services are subject to the maximum rate of 20%, for details of zero-rate and exempt supplies click here>

 

Standard rate 20%
Reduced rate 5%
Annual Registration Limit - from 1.4.11 (1.4.10 - 31.3.11 £70,000) £73,000
Annual Deregistration Limit - from 1.4.11 (1.5.10 - 31.3.11 £68,000) £71,000