You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
Logon - Register
Phone: 01242 260066 | Email accountants@mitchells.org
Registered businesses charge Value Added Tax (VAT) on their sales. This is known as output VAT and the sales are referred to as outputs.
Similarly VAT is charged on most goods and services purchased by the business. This is known as input VAT.
There are three rates: standard which applies to most goods and services, reduced rate for some goods and services such as home energy and zero rate goods and services, for example, most food and children's clothes.
Some supplies are exempt from VAT for example postage stamps, financial and insurance transactions.
A business is required to register for VAT if the value of taxable supplies exceeds the annual registration limit.
Standard: 20%
Reduced: 5%
Annual Registration Limit (1.4.25 to 31.3.26): £90,000
Annual Deregistration Limit (1.4.25 to 31.3.26): £88,000
12 Mar 2026
Self-employed women in the UK earn £51 less per day than men on average, according to IPSE, the self-employed association.
11 Mar 2026
The government needs to significantly broaden its approach to supporting entrepreneurs through the tax system, says the Chartered Institute of Taxation (CIOT).