VAT turnover excemptions?

fifi100 · Jul 20, 2009

I understand that not to be registered for VAT involves remaining below the VAT registration threshold on a rolling 12 month basis.

My business is seasonal and I anticipate that Due to a special event my turnover could potentially exceed the threshold for 1 or 2 months before falling back.

Does anyone know of any 'give' in the system for this?

elaine@cheapaccounting · Jul 20, 2009

Does this help:

If you've gone over the threshold for registration temporarily

If you've only gone over the threshold temporarily, and you can demonstrate to HMRC that in the longer term you will only be trading below the de-registration threshold of £66,000, you can apply for exception from registration. You can ask HMRC if they can make an exception, and allow you not to register for VAT, by filling in a VAT registration form, stating why you are applying for an exception.

If HMRC agree to make an exception and allow you not to register this time, you must let them know of any relevant change in circumstances - for example, if your turnover goes over the threshold again.
If HMRC don't agree to make an exception, you will become registered for VAT from the day you should have been registered. You will need to account for VAT from that date.

from here:

http://www.hmrc.gov.uk/vat/start/register/when-to-register.htm#6

TraceyAnn · Jul 20, 2009

I was just about to write exactly the same as Elaine, but she beat me to it!

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VAT turnover excemptions?

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