Do i really need to be VAT registered.

[JohnD.]

I'm thinking of buying merchandising from China and selling direct to the public in the UK through an online shop and trade shows. If i stay below the VAT threshold can i trade without being VAT registered?
If i had to register, how long does the process take? Thanks

 

[MartBrooks]

Yes, stay below the threshold and you don't need to be registered.

Becoming VAT registered is simple and painless. It's a simple form, your accountant will be able to help you fill it in.

 

[BobBuilder]

Becoming VAT registered is simple and painless.

It's painless if you like lower profits .......

(profits may not be lower if selling to other VAT businesses or selling certain zero rated goods, but generally a company will make less profit per £1 of sales if it is VAT registered)

 

[OPC]

Hi John,

If you don't mind me asking, what type of turnover are you looking at for the 1st 3 years?

Regards

Colin

 

[DeanCo]

If i had to register, how long does the process take?

The process currently takes up to 2-3 months, although I have heard some people have been waiting over 12 months

 

[David Griffiths]

It is impossible to generalise. The last one that we submitted online came back inside a week with an issue date the day afte submission

 

[MyAccountantOnline]

If i had to register, how long does the process take? Thanks

To quote from HMRC's website -

From application to registration: processing times

HMRC aims to process 70 per cent of applications within 10 working days and most are processed within a month.
Sometimes, however, HMRC will carry out additional checks on an application. You will be notified if this is the case with your application. These additional checks are usually completed within three months.

In practice for online applications all those I've done over the past few months have been completed within about 7 days.