| From | 4 Jan 2011 | 1 Jan 2010 |
| Standard rate | 20% | 17.5% |
| VAT fraction | 1/6 | 7/47 |
| Reduced rate | 5% | 5% |
| Taxable Turnover Limits | ||
| Registration – last 12 months or next 30 days over | £73,000 from 1 April 2011 | |
| Deregistration – next 12 months under | £71,000 from 1 April 2011 | |
| Cash accounting scheme – up to | £1,350,000 | |
| Optional flat rate scheme – up to | £150,000 | |
| Annual accounting scheme – up to | £1,350,000 | |