Special Higher Rate
Special Lower Rate
Output tax charged to customers
Input tax charged by suppliers
Value of sales, inclusive of VAT
Value of purchases, inclusive of VAT
Sales and purchase information relating to the EU.
They must have been registered for 12 months, and
They must have a taxable turnover below Â£825,000
No more than Â£150,000 taxable supplies, and
No more than Â£187,500 total business income.
Here's an interesting quiz for you.