United Kingdom
VAT Name :
Value Added Tax (VAT)
VAT Number Format :
123 4567 89 (9 digits)
VAT Information Offices :
National Advice Service + 44 2920 501 261 / 0300 200 3700
RATES
| Rate | Type | Which goods or services |
|---|---|---|
| 20% | Standard | All other taxable goods and services |
| 5% | Reduced | Children's car seats; Renovation and repair of private dwellings; Certain social housing; Domestic and charitable supplies of gas and electricity; Certain heating services; Imported works of art |
| 0% | Zero | Foodstuffs (excluding catering/confectionery etc); Live animals, seeds and plants for foodstuffs; Water (subject to certain exclusions); Certain pharmaceuticals; Certain medical equipment; Drugs; Medicines; Certain passenger transport; Books, newspapers and periodicals; Charities (sale of donated goods); Children's clothing; New housing; Certain sewage services; Caravans and houseboats; Bicycle helmets; Issue of bank notes |
EXEMPTIONS
- Letting of immovable property
- Letting of residential property (excluding short term letting)
- Letting of commercial property
- Financial and insurance services
- Supply of land
- Option to tax can apply in certain cases to leasing and letting of immovable property
- Supply of buildings and land
- Betting and gaming services
- Admission to certain cultural events
- Charity fundraising events
- Works of art supplied by the person who created it or his successor in title
- Care or medical treatment
- Health services
- Education
- Physical education and sports activites
- Postal services
- Burial and creation
THRESHOLDS
Registration Threshold : GBP 85,000
(below threshold registration can be on a voluntary basis)
Distance Selling Threshold : GBP 70,000
Dispatches : GBP 250,000
Arrivals : GBP 1,500,000
Intra-Community Acquisition Threshold : GBP 85,000
PENALTIES
Late Filing : If return late and payment made there is a surcharge liability notice issued(SLN). SLN is used to warn taxpayers that continued late filing or payments can trigger a surcharge of between 2%-15% of the VAT due.
Late registration penalties apply depending on time delay in notification 5%-15% can apply to net VAT due
Other :
– Late filing of EC sales – a penalty could apply
– Late filing of Intrastat – penalties can apply
– Penalties may apply in cases of tax fraud, evasion, etc.
DEADLINES
Assessment Period : 4 years (can be extended to 20 years)
Standard Tax Period : Quarterly
Monthly return available in certain cases.
Normal filing deadline – 1 month and 7 days from period end
ESL filing – monthly submitted by 14th day following reporting period (paper format), 20th day for electronic format
Intrastat filing – 21st working day following reporting period