01142747576 bestadvice@knowleswarwick.com

Value added tax

  From 1 April 2019 From 1 April 2018
Standard rate 20% 20%
Standard rate VAT fraction 1/6 1/6
Reduced rate 5% 5%
Reduced rate VAT fraction 1/21 1/21
Zero rate  0% 0%
Registration - last 12 months or next 30 days over £85,000 £85,000
Deregistration - next 12 months under £83,000 £83,000
Cash accounting scheme - up to £1.35m £1.35m
Optional flat rate scheme    
        joining up to £150,000 £150,000
        exiting over £230,000  £230,000
Annual accounting scheme - up to £1.35m £1.35m
Intrastat arrivals threshold £1.5m          £1.5m
Intrastat dispatches threshold £250,000        £250,000
EC sales list reporting threshold nil       nil

VAT flat-rate scheme

A business must leave the scheme when turnover increases to £230,000. However, a business can remain in the scheme with HMRC's written agreement provided it can be shown that total sales in the following 12 months will be less than £191,500 including VAT.

Cars and your VAT return

VAT scale figues for private use are based on carbon emissions. 

It is expected that the standard rate of VAT will remain at 20% until at least after the 2015 General Election.

Cars and your VAT return

VAT scale figures for private use are based on carbon emissions. Please refer here for the scale figures for VAT returns.


Knowles Warwick Financial Services button

Click here for the Quickbooks website Xero Gold Partner Accountants Sage accountants, experts in cloud accounting, Sheffield, South Yorkshire 

ICAEW Chartered Accountants B1G1 Business for Good Click here for the ACCA website 

Connect Yorkshire  Sheffield Chamber of Commerce Click here for the Caunce O'Hara website Steve Knowles Yorkshire Advisor of the Year 2019 finalist

Knowles Warwick Financial Services Limited is authorised and regulated by the Financial Conduct Authority (in respect of regulated investment, insurance and mortgage business). For regulated financial services, the Financial Ombudsman Service is the alternative dispute resolution provider.