Vat registration what does it mean

Your effective date of registration is the date you realised, not the date your turnover went over the threshold. Example On 1 May, you realise that your VAT taxable turnover in the next day period will take you over the threshold. You must register by 30 May. Your effective date of registration is 1 May.

You have to register within 30 days of the end of the month when you went over the threshold. Your effective date of registration is the first day of the second month after you go over the threshold. You must register by 30 August Your effective date of registration is 1 September You must register as soon as you supply any goods and services to the UK or if you expect to in the next 30 days. HMRC will consider your exception and write confirming if you get one. Check what you need to do.

Talk to your accountant about the exact details. If you are in a VAT reclaim situation then you will definitely be better off. Are there any disadvantages of being VAT registered? There can be increased admin and bookkeeping costs. Although this needs to be done for your annual accounts anyway and there is software to help you - such as the VAT feature in our Business Toolkit.

How do I register for VAT voluntarily? This website uses cookies in order for our feedback functionality to work. You can choose to set these optional survey cookies that are described below. You can find more information on how we use our cookies in our Cookie Statement.

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