There were no changes announced to the rate of VAT.
The VAT registration and de-registration limits have been increased with effect from 1 April 2012 to £77,000 and £75,000 respectively.
The Chancellor announced a number of changes to address some long standing VAT anomalies as follows:
- applying VAT to approved alterations to listed buildings to bring them into line with non-listed buildings;
- applying VAT to self storage operations to bring them into line with other forms of storage;
- applying VAT to a few cases of hot foods and sports drinks where it did not previously apply;
- confirming that VAT applies to hairdressers’ ‘rent a chair’ scheme and to the supply of cold food for consumption on the supplier’s premises;
- ensuring holiday caravans are taxed at the standard rate.
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