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Tax Rates & Allowances

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VAT Rates

The VAT rates and thresholds are as follows:

From1 April 20191 April 20201 April 20211 April 20221 April 2023
Lower rate0%0%0%0%0%
Reduced rate5%5%5%5%5%
Standard rate20%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%.