VAT

 

Value Added Tax

From 1 April 2015 1 April 2016
Lower rate 0% 0%
Reduced rate 5% 5%
Standard rate 20% 20%
Registration turnover £82,000 £83,000
Deregistration turnover £80,000 £81,000
Acquisitions from EU member states,
registration and deregistration threshold
£82,000 £83,000

 

Changes from 2014

  • VAT treatment of prompt payment discounts given by suppliers

 

Changes from 2015

The Government will consult on changes to the VAT rules in the following areas:

  • Zero-rating of work to adapt cars for use by disabled persons
  • VAT avoidance scheme disclosures
  • Reverse charge for buyers of gas and electricity - not domestic customer

 

Next Step:

Please contact us if you need further advice, have any questions about our services, would like a free consultation.

Speak to us today. Call: 0333 5775 332 or Email: info@account-direct.com

 

 

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