Budget Explained: VAT

accawebmaster —  22 March 2012 — Leave a comment

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

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