Value Added Tax (VAT)


Value Added Tax from 1 April 2017
Standard Rate 20%
VAT fraction 1/6
Reduced Rate 5%
Current Turnover Limits
Registration - last 12 months or next 30 days over £85,000 from 1 April 2017
Deregistration - next 12 months under £83,000 from 1 April 2017
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 a flat rate valuation.

The table shows the VAT chargeable for quarters commencing on or after 1 May 2016. 

CO2 emissions Quarterly VAT
(g/km) Flat rate valuation £ VAT on charge £
    0 - 124 166.00 19.33
125 - 129 175.00 29.17
130 - 134 186.00 31.00
135 - 139 197.00 32.83
140 - 144 209.00 34.83
145 - 149 221.00 36.83
150 - 154 233.00 38.83
155 - 159 245.00 40.83
160 - 164 256.00 42.67
165 - 169 268.00 44.67
170 - 174 279.00 46.50
175 - 179 291.00 48.50
180 - 184 303.00 50.50
185 - 189 314.00 52.33
190 - 194 326.00 54.33
195 - 199 338.00 56.33
200 - 204 350.00 58.33
205 - 209 362.00 60.33
210 - 214 373.00 62.17
215 - 219 384.00 64.00
220 - 224 396.00 66.00
225 and above 408.00 68.00

(Source: www.certax.co.uk)