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.
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services