Rates and Bands
The rates, bands and thresholds below apply for the levy year 2026–27, which runs from 1 October 2026 to 30 September 2027. They were confirmed by the Revenue Office of the Velocity Interoperability Network on 6 September 2026 and are unchanged from the interim arrangements in force since 10 August 2026. Each levy is described on the Levies page.
The Member Contribution Levy. The levy is charged on the chargeable operating receipts of member organisations. The bands are applied to receipts in the levy year, so that each rate applies only to the slice of receipts above the threshold beneath it.
| Band | Chargeable operating receipts | Rate |
|---|---|---|
| Nil band | First 250,000 credits | Nil |
| Lower rate | Next 750,000 credits | 1% |
| Middle rate | Next 1,500,000 credits | 2% |
| Top rate | Chargeable receipts above 2,500,000 credits | 3% |
The Citizen Contribution. The contribution is charged on the assessable earnings of citizens of the Network from work carried on within the Network. Earnings within the nil band attract no charge and require no registration.
| Band | Assessable earnings | Rate |
|---|---|---|
| Nil band | First 20,000 credits | Nil |
| Lower rate | Next 30,000 credits | 4% |
| Middle rate | Next 50,000 credits | 7% |
| Top rate | Assessable earnings above 100,000 credits | 10% |
The Interconnection Levy and Transaction Duty. These levies are charged at flat rates rather than in bands. The Interconnection Levy is charged per thousand recorded events above a quarterly allowance; Transaction Duty is charged as a percentage of each charge for a supply, collected by the supplier with the charge.
| Levy and rate | Applies to | Rate |
|---|---|---|
| Interconnection Levy | Recorded interconnection events above a quarterly allowance of 100,000 | 40 credits per 1,000 events |
| Transaction Duty, standard rate | Charges for most goods and services supplied in the Network | 2% |
| Transaction Duty, reduced rate | Listed essential supplies, including utilities, food staples and medical goods | 0.5% |
| Transaction Duty, zero-rated and exempt supplies | Supplies by educational and charitable bodies, and supplies within a single organisation | Nil |
Worked examples. The examples below show how each levy is calculated.
The dates by which returns and payments are due are set out under Filing a Return and Paying a Levy. Questions about a rate or band may be sent to contact@revenue.gov.vin; for answers to common questions, see the frequently asked questions.