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Accountants that Speaks Plain English

Find out how to Make more, Keep more and Work less

RECEIVE COMPETITIVE QUOTE

EJ Summers Winner of Scottish Young Accountant of the Year Award

Call us on 01346 518826

info@leiperandsummers.co.uk


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VAT Rates

The VAT rates and thresholds are as follows:

From 1 April 2018 1 April 2019 1 April 2020 1 April 2021 1 April 2022
Lower rate 0% 0% 0% 0% 0%
Reduced rate 5% 5% 5% 5% 5%
Standard rate 20% 20% 20% 20% 20%
Registration turnover £85,000 £85,000 £85,000 £85,000 £85,000
Deregistration turnover £83,000 £83,000 £83,000 £83,000 £83,000
Acquisitions from EU member states, registration and deregistration threshold £85,000 £85,000 £85,000 £85,000 £85,000

For the period 15 July 2020 to 12 January 2021 there is a temporary 5% reduced rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions.