VAT threshold changes
While there have been a number of changes to VAT rates over the past few years, this year only the headline rate changes.
The following is a round-up of the annual changes to the VAT thresholds. They will be effective from 1 April 2012.
The VAT registration threshold will increase to £77,000, this was previously £73,000. The deregistration threshold will increase to £75,000, this was previously £71,000.
The VAT registration and deregistration threshold for relevant acquisitions from other EU member states will also increase to £77,000, this was previously £73,000.
There were a number of consultations mentioned in the Budget; these can be found in the VAT Consultations note.