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Value Added Tax

From 1 April 2014
Standard rate 20%
VAT fraction 1/6
Reduced rate 5%
Taxable Turnover Limits
Registration - last 12 months or next 30 days over £81,000 from 1 April 2014
Deregistration - next 12 months under £79,000 from 1 April 2014
Cash accounting scheme - up to £1,350,000
Optional flat rate scheme - up to £150,000
Annual accounting scheme - up to £1,350,000

VAT on fuel for private use in cars

Where businesses wish to reclaim the input VAT on fuel which has some degree of private use, they must account for output VAT for which they may use the flat rate valuation.

The table shows the VAT chargeable for quarters commencing on or after 1 May 2014.

CO2 emissions
(g/km)
Quarterly VAT
Fuel scale
charge £
VAT on charge
£
  168  
Up to 75 168 28.00
76-94 168 28.00
95 - 99 168 28.00
100 - 104 168 28.00
105 - 109 168 28.00
110 - 114 168 28.00
115 - 119 168 28.00
120 - 124 168 28.00
125 - 129 234 39.00
130 - 134 251 41.83
135 - 139 266 44.33
140 - 144 282 47.00
145 - 149 297 49.50
150 - 154 313 52.17
155 - 159 328 54.67
160 - 164 345 57.50
165 - 169 360 60.00
170 - 174 376 62.67
175 - 179 391 65.17
180 - 184 408 68.00
185 - 189 423 70.50
190 - 194 439 73.17
195 - 199 454 75.67
200 - 204 470 78.33
205 - 209 485 80.83
210 - 214 502 83.67
215 - 219 517 86.17
220 - 224 533 88.83
225 and above 548 91.33
 

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