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| | | Forum Newbie
Group: Forum Members
Last Login: 05 February 2009 17:54
Posts: 1, Visits: 4 |
| Hi,
Can anybody tell me at which point should I become VAT registered?
Thanks
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| | | Forum Member
Group: Forum Members
Last Login: 04 April 2009 14:37
Posts: 28, Visits: 121 |
| From the HMRC wesbite:
"You must register for VAT if your turnover for the previous 12 months is over a specific limit - currently £67,000 - or if you think your turnover may soon go over this limit. You may register voluntarily at any time."
It depends on what kind of business you are in. When I started my business, I registered voluntarily because I didn't want to advertise the fact that I had quite a low turnover (the limits were proportionally much lower then). Again depending on what kind of business you have, the returns are quite easy to do, and you don't need an accountant to do them. Also, you can opt to go on a flat rate which, can actually 'make' you money - a bit of a loophole.
If you can give a few more details of what you do, maybe we can provide more information. |
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