Estimate UK VAT due (20% standard, 5% reduced, 0% zero-rated) including input VAT recovery and the Flat Rate Scheme.
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Computes the net VAT payable to HMRC from output VAT (standard 20%, reduced 5%, zero-rated) less recoverable input VAT, with an optional Flat Rate Scheme comparison.
A business with £100,000 of net (ex-VAT) standard-rated sales and £4,000 of recoverable input VAT: output VAT £20,000 − input VAT £4,000 = £16,000 payable to HMRC (gross revenue £120,000).
The standard rate is 20%, with a 5% reduced rate (e.g. domestic fuel) and 0% on zero-rated supplies such as most food and children's clothing. You charge output VAT on sales and reclaim input VAT on purchases.
Registration is compulsory once taxable turnover exceeds £90,000 in any rolling 12 months (threshold from 1 April 2024), or if you expect to exceed it within the next 30 days.
Instead of accounting for input and output VAT separately, you pay a fixed percentage of your gross (VAT-inclusive) turnover. A 1% discount applies in the first year of registration.
A business that spends very little on goods uses the 16.5% flat rate, which usually makes the Flat Rate Scheme less attractive than standard VAT accounting.