| From 1 April | 2015 | 2014 |
| Standard rate | 20% | 20% |
| VAT fraction | 1/6 | 1/6 |
Taxable turnover limits
| Registration (last 12 months or next 30 days over) | £82,000 | £81,000 |
| Deregistration (next year under) | £80,000 | £79,000 |
| Annual accounting scheme | £1,350,000 | £1,350,000 |
| Cash accounting scheme | £1,350,000 | £1,350,000 |
| Flat rate scheme | £150,000 | £150,000 |
