VAT

Rates

The VAT rates and thresholds are as follows:

From 1 April 2014 1 April 2015 1 April 2016 1 April 2017
Lower rate 0% 0% 0% 0%
Reduced rate 5% 5% 5% 5%
Standard rate 20% 20% 20% 20%
Registration turnover 81,000 82,000 83,000 85,000
Deregistration turnover 79,000 80,000 81,000 83,000
Acquisitions from EU member states, registration and deregistration threshold 81,000 82,000 83,000 85,000

Note: Autumn Budget 2017 announced that the VAT registration and deregistration thresholds will remain unchanged from 1 April 2018.