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Tax Rates & Allowances

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VAT Rates

The VAT rates and thresholds are as follows:

From	1 April 2020	1 April 2021	1 April 2022	1 April 2023	1 April 2024	1 April 2025	1 April 2026
Zero rate	0%	0%	0%	0%	0%	0%	0%
Reduced rate	5%	5%	5%	5%	5%	5%	5%
Standard rate	20%	20%	20%	20%	20%	20%	20%
Registration turnover	£85,000	£85,000	£85,000	£85,000	£90,000	£90,000	£90,000
Deregistration turnover	£83,000	£83,000	£83,000	£83,000	£88,000	£88,000	£88,000
Acquisitions from EU member states, registration and deregistration threshold	£85,000	£85,000	£85,000*	£85,000*	£90,000*	£90,000*	£90,000*

* From 1 January 2021 this is only relevant for supplies of goods into Northern Ireland.