At what point do I need to register for VAT?
Answer:
Before you make the first sale within the EU.
When you become a registered company, you need to register for VAT if you will be selling goods.
Go here: http://www.businesslink.gov.uk/bdotg/act.
You can register as soon as you like, but I think you must register if you expect £50,000 turnover.
When you are earning enuogh tutnover contact vat office for up to date level of reg
i think it's if you earn more than £54,000per annum it's compulsary. But you can register for vat at any point if you do so desire
"a person will have to apply for registration if:
a. at the end of any month, the value of the taxable supplies made in the past 12 months or less has exceeded £61,000; or
b. at any time there are reasonable grounds for believing that the
value of the taxable supplies to be made in the next 30 days alone
will exceed £61,000."
when u earn the same as ure neighbour
Hey!
I own a small business and know that you have to register for VAT when you are turning over £1,000 per week.
Hope this helps,
Andy
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