Cookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.
VAT Rates
The VAT rates and thresholds are as follows:
| From | 1 April 2019 | 1 April 2020 | 1 April 2021 | 1 April 2022 | 1 April 2023 |
| Lower rate | 0% | 0% | 0% | 0% | 0% |
| Reduced rate | 5% | 5% | 5% | 5% | 5% |
| Standard rate | 20% | 20% | 20% | 20% | 20% |
| Registration turnover | £85,000 | £85,000 | £85,000 | £85,000 | £85,000 |
| Deregistration turnover | £83,000 | £83,000 | £83,000 | £83,000 | £83,000 |
| Acquisitions from EU member states, registration and deregistration threshold | £85,000 | £85,000 | £85,000* | £85,000* | £85,000* |
* From 1 January 2021 this is only relevant for supplies of goods into Northern Ireland.
For the period 15 July 2020 to 30 September 2021 there was a temporary 5% reduced rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions. From 1 October 2021 to 31 March 2022 these supplies were subject to VAT at 12.5%.
See our helpsheet on the working time and minimum wage regulations.
Book a Free, No Obligation Consultation
Take advantage of a free consultation to see how you can benefit from using Stanhope accountancy and advisory and find out the best way to deal with your tax, accounting and how to minimise your tax liabilities. Book now >
Get a Fixed Quote
We believe you should always be in control of your finances. For this reason we can offer many of our services on a fixed fee basis on agreed services >
Profitability Strategies
We can help you develop strategies to help your business grow without increasing costs specialized tax incentives to produce multiple benefits and help you increase your profit >
Your Business
Expert tax planning advice any size business tailored to you >
