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Value Added Tax 2007/08
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 |
£52,000 |
£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 fuel scale charges from 1 May 2007
New system introduced so that the fuel scale charge relates to CO2 emissions. |
CO2 band |
Scale charge per quarter £ |
VAT on quarterly charge £ |
140 or below |
182 |
27.11 |
145 |
195 |
29.04 |
150 |
207 |
30.83 |
155 |
219 |
32.62 |
160 |
231 |
34.40 |
165 |
243 |
36.19 |
170 |
256 |
38.13 |
175 |
268 |
39.91 |
180 |
280 |
41.70 |
185 |
292 |
43.49 |
190 |
304 |
45.28 |
195 |
317 |
47.21 |
200 |
329 |
49.00 |
205 |
341 |
50.79 |
210 |
353 |
52.57 |
215 |
365 |
54.36 |
220 |
378 |
56.30 |
225 |
390 |
58.09 |
230 |
402 |
59.87 |
235 |
414 |
61.66 |
240 or above |
426 |
63.45 |
Previous VAT fuel scale charges from 1 May 2006 (before 1 May 2007)
| 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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