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Value Added Tax
Value Added Tax
| From |
1 April 2001 |
1 April 2000 |
| Standard rate |
17.5% |
17.5% |
| VAT fraction |
7/47 |
7/47 |
Taxable Turnover Limits
| Registration - last 12 months or coming 30 days over |
£54,000 |
£52,000 |
| Deregistration - coming year under |
£52,000 |
£50,000 |
| Cash accounting scheme - up to |
£600,000 |
£350,000 |
Quarterly Return – Scale figure for private use of fuel
| |
2001/02 |
| Petrol |
scale charge |
VAT due per car |
| Up to 1400cc |
£242 |
£36.04 |
| 1401cc - 2001cc |
£307 |
£45.72 |
| Over 2000cc |
£453 |
£67.46 |
| |
|
|
| Diesel |
|
|
| Up to 2000cc |
£225 |
£33.51 |
| Over 2000cc |
£286 |
£42.59 |
Did you know?
That the Treasury this year expects their VAT revenues to be in the region of £60 billion.
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Coates & Partners
Chartered Accountants and
Registered Auditors
13 St John Street, Ashbourne, Derbyshire, DE6 1GP
Telephone: +44 (0) 1335
342283 Facsimile: +44 (0) 1335 300315
Email:
Enquiries@coatesandpartners.co.uk
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