Tax Rates & Allowances
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VAT Rates
The VAT rates and thresholds are as follows:
| From | 1 April 2019 | 1 April 2020 | 1 April 2021 | 1 April 2022 | 1 April 2023 |
| Lower rate | 0% | 0% | 0% | 0% | 0% |
| Reduced rate | 5% | 5% | 5% | 5% | 5% |
| Standard rate | 20% | 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 |
There is a temporary 5% reduced rate of VAT for some hospitality, hotel and holiday accommodation, and entrance to specific attractions from July 15, 2020 until January 12, 2021.
