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Tax Rates & Allowances

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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 1 April 2024
Zero rate 0% 0% 0% 0% 0% 0%
Reduced rate 5% 5% 5% 5% 5% 5%
Standard rate 20% 20% 20% 20% 20% 20%
Registration turnover £85,000 £85,000 £85,000 £85,000 £85,000 £90,000
Deregistration turnover £83,000 £83,000 £83,000 £83,000 £83,000 £88,000
Acquisitions from EU member states, registration and deregistration threshold £85,000 £85,000 £85,000* £85,000* £85,000* £90,000*

* From 1 January 2021 this is only relevant for supplies of goods into Northern Ireland.

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