DavidBarry(lford)AccountantsTaxadvisers

Value Added Tax

Standard Rate from 01/01/10 17.5%

Standard rate to 31/12/09 15%

Reduced Rate eg on domestic fuel 5%

Annual Registration Limit - from 1.4.10 £70,000

(1.4.08 - 31.3.10 £68,000)

Annual Deregistration Limit - from 1.4.09 £66,000

(1.4.08 - 30.4.09 £65,000)

Flat rate scheme turnover limit £150,000

Cash and annual accounting schemes turnover limit £1,350,000

Standard rate - currently 17.50% per cent, from 1 January 2010 (formerly 15%).

Comment: Although, a 2 and 1/2 % reduction seemed small (I thought so to) it does make a difference on multiple purchases. Therefore, I hope that you made sure that you purchased (if possible, of course) your equipment (especially major) before the deadline of 1 January 2010.

http://www.hmrc.gov.uk/VAT/forms-rates/rates/rates.htm