Value added tax
Measures announced in the 2009 Pre Budget Report
| From | 1 May 2009 to 31 December 2009 | From 1 January 2010 | |
| Standard rate | 15% | 17.5% | |
| Standard rate VAT fraction | 3/23 | 7/47 | |
| Reduced rate | 5% | 5% | |
| Reduced rate VAT fraction | 1/21 | 1/21 | |
| Taxable turnover limits | |||
| Registration - last 12 months or next 30 days over | £68,000 | £68,000 | |
| Deregistration - next 12 months under | £66,000 | £66,000 | |
| Cash accounting scheme - up to | £1,350,000 | £1,350,000 | |
| Optional flat rate scheme - up to | £150,000 | £150,000 | |
| Annual accounting scheme - up to | £1,350,000 | £1,350,000 | |
