By ACCA’s Budget team
We have seen a number of changes to VAT rates over the past few years, This year, only a change to the headline rate.
The annual changes to the VAT thresholds have been announced and will be effective from 1 April 2012.
The VAT registration threshold will increase to £77,000, previously £73,000 and deregistration threshold will increase to £75,000, previously £71,000.
The VAT registration and deregistration threshold for relevant acquisitions from other EU Member States will also increase to £77,000, previously £73,000.
There were a number of consultations mentioned within the Budget these can be found in the VAT Consultations note.
Remember, you can see ACCA’s budget blog from yesterday, here