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Value Added Tax

From 1 April 2007 1 April 2006 Standard rate 17.5% 17.5% VAT fraction 7/47 7/47 Taxable Turnover Limits Registration - last 12 months or next 30 days over £64,000 £61,000 Deregistration - next 12 months under £62,000 £59,000 Cash accounting scheme - up to £1,350,000 £660,000 Optional flat rate scheme - up to £150,000 £150,000 Annual accounting scheme - up to £1,350,000 £1,350,000

VAT on fuel for private use in cars

Where businesses buy fuel which has some degree of private use, they must account for output VAT on a scale charge. This is based on the CO₂ emissions (rounded down to the next multiple of 5). The VAT chargeable for quarters commencing after 1 May 2007 is as follows:

CO2 in g/km VAT on charge CO2 in g/km VAT on charge CO2 in g/km VAT on charge Up to 140 £27.11 175 £39.91 210 £52.57 145 £29.04 180 £41.70 215 £54.36 150 £30.83 185 £43.49 220 £56.30 155 £32.62 190 £45.28 225 £58.09 160 £34.40 195 £47.21 230 £59.87 165 £36.19 200 £49.00 235 £61.66 170 £38.13 205 £50.79 240 and over £63.45

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