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Tax Rates |
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VAT |
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There are different rates of VAT that apply
to different types of goods and services. And there are some goods and
services that are exempt from VAT. At the moment there are three VAT
rates:
- standard rate - see below
- reduced rate - 5 per cent
- zero rate - 0 per cent
Standard rate is:
- 17.5 per cent up to and including 30 November 2008
- 15 per cent from 1 December 2008 to 31 December 2009
- 17.5 per cent from 1 January 2010 until further notice
Registration limit from 10 April 2009 :
£68,000 per annum
You must also register for VAT if either of the following applies:
- you think your VAT taxable turnover may go over the threshold in the
next 30 days alone
- you take over a VAT-registered business as a going concern
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