Value Added Tax 2006/07
| From |
1 April 2006 |
1 April 2005 |
| Standard rate |
17.5% |
17.5% |
| VAT fraction |
7/47 |
7/47 |
| Taxable Turnover Limits |
| Registration - last 12 months or next 30 days over |
£61,000 |
£60,000 |
| Deregistration - next 12 months under |
£59,000 |
£58,000 |
| Cash accounting scheme - up to |
£660,000 |
£660,000 |
| Optional flat rate scheme - up to |
£150,000 |
£150,000 |
| Annual accounting scheme - up to |
£1,350,000 |
£660,000 |
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| Quarterly Return – Scale figure for private use of fuel |
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From 1 May 2006 |
| Petrol |
scale charge |
VAT due per car |
| Up to 1400cc |
£273 |
£40.66 |
| 1401cc - 2000cc |
£346 |
£51.53 |
| Over 2000cc |
£508 |
£75.66 |
| Diesel |
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| Up to 2000cc |
£260 |
£38.72 |
| Over 2000cc |
£331 |
£49.30 |
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Contact Us |
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Suite 4, Earls House, Earlsway,
Team Valley, Gateshead, NE11 0RY |
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