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Turnover limits, VAT on fuel etc.
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 (1.4.26 to 31.3.27): £90,000
Annual Deregistration Limit (1.4.26 to 31.3.27): £88,000
14 May 2026
The UK economy grew by 0.6% in the first quarter of 2026, according to the latest data from the Office for National Statistics (ONS).
13 May 2026
A total of 161 pubs closed across Britain in the first three months of 2026, an equivalent of almost two a day, according to figures from the British Beer and Pub Association (BBPA).