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VAT, Vehicle Excise Duty and Landfill Tax.
The VAT registration and deregistration thresholds will remain unchanged for a period of two years from 1 April 2022.
The six-month extension to the UK-wide VAT reduction to 12.5% for the tourism and hospitality sectors comes to an end on 31 March 2022 with rates returning to the standard rate of 20%.
With effect from 1 April 2022 the rates of VED rates for cars, vans, motorcycles, and motorcycle trade licenses will increase in line with Retail Prices Index (RPI).
For heavy goods vehicles, VED continues to be frozen in 2022/23. The HGV Levy is suspended for another 12 months from 1 August 2022.
With effect from 1 April 2022 both the standard and lower rates of Landfill Tax will increase in line with the RPI.
Why not get in touch with Quarter Chartered Accountants today for more information.