When your
taxable turnover in a rolling 12-month period
exceeds £73,000. However, if at any
point you expect your turnover to exceed
the compulsory VAT registration threshold
within the next 30 days, you must register
from the date the expectation arose.
This depends
on your postcode and the best advice is to
phone the National VAT Advice line (0845 010
9000) and they will give you the correct address.
How long should the VAT
Registration process take?
At present,
registrations are taking up to 6 weeks to
be processed by HM Revenue & Customs, but
simple registrations can take less than this.
If
I have not yet started to trade, should I
enclose any additional information with my
VAT Registration form?
If you
have not yet started to trade, you will
need to include proof of your intention
to trade in order for HM Revenue & Customs
to register you for VAT. This proof can be
a number of purchase invoices, copy of contracts
with customers or suppliers etc.
Are there any alternative
VAT accounting schemes apart from the normal
one?
There are
a number of alternative schemes being, cash
accounting, annual accounting, Flat Rate scheme
etc. Please go to the VAT
Resources section of the website for further
details.
