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VAT

Rates

The VAT rates and thresholds are as follows:

From 1 April 2017 1 April 2018 1 April 2019 1 April 2020
Lower rate 0% 0% 0% 0%
Reduced rate 5% 5% 5% 5%
Standard rate 20% 20% 20% 20%
Registration turnover £85,000 £85,000 £85,000 £85,000
Deregistration turnover £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

For the period 15 July 2020 to 12 January 2021 there is a temporary 5% reduced rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions.


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Aspire is a member firm of the Institute of Chartered Accountants in England and Wales.
Aspire is registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities
by the Institute of Chartered Accountants in England and Wales.
Aspire is a trading name of Aspire & Inspire UK Ltd, registered in England, no. 07363218. VAT registration no. 997147170

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