Does it cost anything to a VAT number?

[DLOT]

Hi,
I was just wondering if it costs anything to have a VAT number in UK.
I know you do not need it up to 60K but may customer, being foreigner, may need the VAT number.

A part from registering, does it have a annual fee just for owning the number?
Thanks

Dlot

 

[Ozzy]

Nope - as far has "subscribing" or "having" a VAT number it doesn't cost anything but a bit of extra time keeping correct records.

 

[VeryMark]

We found an advantage in registering in being able to reclaim VAT. We have also registered under the cash accounting scheme so that we do not pay VAT until invoices are settled. EU customers and suppliers will need your VAT number if you are registered.

 

[DLOT]

Thanks a lot for your reply,
it helps a lot
Dlot