|From||1 April 2017|
|Current Turnover Limits|
|Registration – last 12 months or next 30 days over||£85,000 from 1 April 2017|
|Deregistration – next 12 months under||£83,000 from 1 April 2017|
|Annual and Cash Accounting Schemes||£1,350,000|
|Flat Rate Scheme||£150,000|
VAT Flat Rate Scheme
As announced in the Autumn Statement 2016, there will be a new 16.5% rate from 1 April 2017 for businesses with limited costs, such as many labour-only businesses.
Anti-forestalling provisions have been introduced to prevent any business defined as a limited cost trader from continuing to use a lower flat rate beyond 1 April 2017.