Any business selling goods or services subject to Value Added Tax (VAT) can register for VAT. It becomes mandatory to register for VAT if your turnover exceeds the threshold in the previous 12 month period.
Registering online tends to be faster, and provides on-screen help whilst you complete the form. You’ll also receive instant confirmation that HMRC have your application.
Will I get in trouble if I don’t register for VAT?
If you exceed the turnover threshold in the previous 12 months of trading (or you expect to exceed it within the next 30 days), then you must register for VAT. Failing to do usually results in having to pay penalties on top of the VAT which is due.
Find out how our team of online accountants can help you with VAT by calling 020 3355 4047, or using the Live Chat button on screen.
About The Author
I'm an experienced and fully AAT and ACCA qualified accountant, who is enthusiastic about helping business owners succeed. I also love cooking and needlepoint (at different times!).