|
|
|
Value Added Tax
| From |
10 April 2003 |
25 April 2002 |
| Standard rate |
17.5% |
17.5% |
| VAT fraction |
7/47 |
7/47 |
| Taxable Turnover Limits |
| Registration - last 12 months or next 30 days over |
£56,000 |
£55,000 |
| Deregistration - next 12 months under |
£54,000 |
£53,000 |
| Cash accounting scheme - up to |
£600,000 |
£600,000 |
| Optional flat rate scheme - up to |
£150,000 |
£100,000 |
| |
| Quarterly Return – Scale figure for private use of fuel |
| |
From 1 May 2003 |
| Petrol |
scale charge |
VAT due per car |
| Up to 1400cc |
£237 |
£35.29 |
| 1401cc - 2000cc |
£300 |
£44.68 |
| Over 2000cc |
£442 |
£65.82 |
| Diesel |
|
|
| Up to 2000cc |
£225 |
£33.51 |
| Over 2000cc |
£283 |
£42.14 |
|
|
|
