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2005/06 Rates and Allowances
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Value Added Tax
VAT Calculator - Use this to check the VAT input and output tax.
| From |
1 April 2005 |
1 April 2004 |
| Standard rate |
17.5% |
17.5% |
| VAT fraction |
7/47 |
7/47 |
| Taxable Turnover Limits |
| Registration - last 12 months or next 30 days over |
£60,000 |
£58,000 |
| Deregistration - next 12 months under |
£58,000 |
£56,000 |
| Cash accounting scheme - up to |
£660,000 |
£660,000 |
| Optional flat rate scheme - up to |
£150,000 |
£150,000 |
| Annual accounting scheme - up to |
£660,000 |
£660,000 |
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| Quarterly Return – Scale figure for private use of fuel |
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From 1 May 2005 |
| Petrol |
scale charge |
VAT due per car |
| Up to 1400cc |
£246 |
£36.64 |
| 1401cc - 2000cc |
£311 |
£46.32 |
| Over 2000cc |
£457 |
£68.06 |
| Diesel |
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| Up to 2000cc |
£236 |
£35.15 |
| Over 2000cc |
£300 |
£44.68 |
Did you know?
That the Government is expecting to receive £76.3 billion from VAT. This represents an increase of £4 billion (5.5%) compared with the previous year.
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