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07/08 Value Added Tax

Standard Rate	17.5%
Lower Rate	5%
Annual Registration Limit - from 1 April 2007 (2006 - Ł61,000)	Ł64,000
VAT on private fuel - scale charge due per quarter per car for accounting periods beginning on or after 6 April 2006.

	Petrol		Diesel
	Charge Ł	VAT Ł	Charge Ł	VAT Ł
Up to 1400cc	273	40.66	260	38.72
1401 - 2000cc	346	51.53	260	38.72
Over 2000cc	508	75.66	331	49.29
The calculation of fuel scale charges for private use of road fuel has been altered from engine size to carbon dioxide (Co₂) emissions in order to bring it into line with the current personal tax regime. This new method must be used from the beginning of the next VAT accounting period on or after 1st May following the budget.

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