VAT Registration: When and How
· WOWERI
Determine if you need to register for VAT and learn how to do it. VAT registration may be mandatory if your business exceeds a certain revenue threshold.
Introduction to VAT
VAT (Value Added Tax) is a tax on most goods and services in the UK. If your business exceeds a certain revenue threshold, you may need to register for VAT.
Who needs to register for VAT?
According to VAT Notice 700/1, you must register for VAT if your business exceeds the revenue threshold of £85,000 in a 12-month period.
How to register for VAT
To register for VAT, you need to apply on the GOV.UK website. You will need to provide information about your business, including the name, address, and company number.
VAT registration deadlines
You must register for VAT within 30 days of your business exceeding the revenue threshold.
What to do next
Source: gov.uk