Value Added Tax


	From 10/04/2003	From 25/04/2002

Standard rate	17.5%	17.5%

Registration level	£56,000	£55,000

Deregistration level	£54,000	£53,000

Cash accounting upper limit	*£600,000	*£600,000

Annual accounting upper limit	*£600,000	*£600,000

*Businesses already on a scheme will be able to continue on it until turnover reaches £750,000. Businesses already on a scheme will be able to continue on it until turnover reaches £750,000.