VAT or not

[MarcusUK21]

Starting a business is a step in to the Unkown. As sole trader registering for VAT before you reach the £1000 threshold or when you reach it. It seems a lot of red tape to register until you know if your business will take off or not. I appreciate any device. This is an online business.

 

[japancool]

Didn't you already ask this question?

To be VAT registered or not?

Hi Folks. I hope some of you can advise me. I am a soletrader and was not too sure about registering for VAT because my business has not started yet but realise you don’t need to register until I reach the threshold. But equally are there benefits to being VAT registered? My business is...

www.ukbusinessforums.co.uk

Is this for your online gift store or your CV writing service?

 

[johndon68]

As sole trader registering for VAT before you reach the £1000 threshold or when you reach it.

The VAT threshold is £85,000, not £1,000.

 

[JEREMY HAWKE]

I think the OP got the vat threshold confused with undeclarable low income for hobbyist type people

You don't need to register for vat until you hit the 85K of sales /turn over however if you operating costs (purchases) are high on a monthly basis it would be an advantage to registered

ie the owner drivers in my industry may not hit the vat threshold but they are registered because fuel, repairs and van purchase/hire are very high and vat chargeable by their suppliers

 

[MarcusUK21]

I think the OP got the vat threshold confused with undeclarable low income for hobbyist type people

You don't need to register for vat until you hit the 85K of sales /turn over however if you operating costs (purchases) are high on a monthly basis it would be an advantage to registered

ie the owner drivers in my industry may not hit the vat threshold but they are registered because fuel, repairs and van purchase/hire are very high and vat chargeable by their suppliers

Thanks Jeremy. Explained really well.

 

[MarcusUK21]

Didn't you already ask this question?

To be VAT registered or not?

Hi Folks. I hope some of you can advise me. I am a soletrader and was not too sure about registering for VAT because my business has not started yet but realise you don’t need to register until I reach the threshold. But equally are there benefits to being VAT registered? My business is...

www.ukbusinessforums.co.uk

Is this for your online gift store or your CV writing service?

The gift store.

 

[japancool]

The gift store.

The answers are the same as last time.