Value Added Tax

From 1 April 2017
Standard rate 20%
VAT fraction 1/6
Reduced rate 5%
Current Turnover Limits
Registration - last 12 months or next 30 days over £85,000
Deregistration - next 12 months under £83,000
Cash accounting scheme - up to £1,350,000
Optional flat rate scheme - up to £150,000
Annual accounting scheme - up to £1,350,000

VAT on fuel for private use in cars

Where businesses wish to reclaim the input VAT on fuel which has some degree of private use, they must account for output VAT for which they may use the flat rate valuation.

The table shows the VAT chargeable for quarters commencing on or after 1 May 2016.

CO2 emissions
(g/km)
Quarterly VAT
Flat Rate Valuation £ VAT on Charge £
0-124 116 19.33
125-129 175 29.17
130-134 186 31.00
135-139 197 32.83
140-144 209 34.83
145-149 221 36.83
150-154 233 38.83
155-159 245 40.83
160-164 256 42.67
165-169 268 44.67
170-174 279 46.50
175-179 291 48.50
180-184 303 50.50
185-189 314 52.33
190-194 326 54.33
195-199 338 56.33
200-204 350 58.33
205-209 362 60.33
210-214 373 62.17
215-219 384 64.00
220-224 396 66.00
225 and above 408 68.00