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Value Added Tax
| From | 1 April 2006 | 1 April 2005 | | Standard rate | 17.5% | 17.5% | | VAT fraction | 7/47 | 7/47 | | Taxable Turnover Limits | | Registration - last 12 months or next 30 days over | £61,000 | £60,000 | | Deregistration - next 12 months under | £59,000 | £58,000 | | Cash accounting scheme - up to | £660,000 | £660,000 | | Optional flat rate scheme - up to | £150,000 | £150,000 | | Annual accounting scheme - up to | £1,350,000 | £660,000 | | | | Quarterly Return – Scale figure for private use of fuel | | | From 1 May 2006 | | Petrol | scale charge | VAT due per car | | Up to 1400cc | £273 | £40.66 | | 1401cc - 2000cc | £346 | £51.53 | | Over 2000cc | £508 | £75.66 | | Diesel | | | | Up to 2000cc | £260 | £38.72 | | Over 2000cc | £331 | £49.30 |
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