As a VAT registered business you will need to complete regular VAT returns. We can prepare these for you or provide advice and assistance.


VAT rates

The following VAT rates apply.

Rates per year	From 04/01/2011	From 01/04/2010
Registration threshold	£70,000	£70,000
Deregistration threshold	£68,000	£68,000
Standard rate	20%	17.5%
Reduced rate	5%	5%
Annual accounting threshold	£1,350,000	£1,350,000
Cash accounting entry threshold	£1,350,000	£1,350,000
Cash accounting exit threshold	£1,600,000	£1,600,000
Flat rate scheme entry threshold	£150,000	£150,000
Flat rate scheme exit threshold	£230,000	£225,000

Redwoods are regulated by the Association of Chartered Certified Accountants and are Registered Auditors.