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VAT registration and de-registration

VAT registration is an area that is often misunderstood by businesses.  While many are obliged to register for VAT, others choose to do so voluntarily.

VAT registration is compulsory if your annual turnover (in any 12 month rolling period) is above the registration threshold which is reviewed every 1 April.  Many businesses choose to register for VAT voluntarily, before they reach the threshold, as it may be advantageous for them to do so.

Our team are on hand to help you decide when the time is right to register your business for VAT.  VAT registration must be completed within 30 days of first becoming liable.

Like the VAT registration threshold, the de-registration threshold is reviewed every 1 April.  Careful consideration is required before you de-register for VAT as output VAT may be payable on the value of assets and stock on hand at the point of de-registration.

Please see our current tax rates and tables for the latest VAT thresholds and give one of our Tax Specialists a call to discuss your VAT needs.