VATAAS1300 - Introduction: History of changes to the turnover ceilings for the scheme
1 April 2001
Entry ceiling increased from 拢300,000 to 拢600,000.
Exit ceiling increased from 拢375,000 to 拢750,000.
(鈥楨ntry ceiling鈥� is the turnover up to which businesses are eligible to start using the scheme. 鈥楨xit ceiling鈥� is the turnover above which businesses must leave the scheme.)
25 April 2002
New 鈥榣ower entry鈥� ceiling introduced which, for the first time, allowed businesses with a taxable turnover up to 拢100,000 to join the scheme in their first year of registration. Previously, all businesses had to wait to join the scheme until they had been registered for a year.
10 April 2003
Lower entry ceiling increased from 拢100,000 to 拢150,000.
1 April 2004
Entry ceiling increased to 拢660,000.
Exit ceiling increased to 拢825,000.
1 April 2006
Entry ceiling increased to 拢1,350,000.
Exit ceiling increased to 拢1,600,000.
Lower entry ceiling of 拢150,000 was abolished. This meant that, for the first time, all businesses with a turnover up to 拢1,350,000 could join the scheme from their date of registration.