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VAT — Rates and Thresholds

Rates 2022/23 2021/22
Standard 20% 20%
Reduced 5% 5%
Zero 0% 0%
Exempt N/A N/A
Temporary reduced rate for hospitality and tourism 1 20% 12.5%
  1. A 5% rate was introduced with effect from 15 July 2020 and applied until 30 September 2021, from when a 12.5% rate will applied until 31 March 2022.
Thresholds 1 2022/23 2021/22
VAT registration £85,000 £85,000
VAT de-registration £83,000 £83,000
  1. The VAT registration and deregistration thresholds will be frozen until 31 March 2026.