VAT Registration - silly question time!

[last of the summer wine]

The requirement to register for VAT if your turnover is going to exceed £85k in a 12 month period - is that an actual 12 months? What about if you've only been trading for 6 months and are approaching the threshold, do you still have to register or do you wait until the 12 months is up or nearly up?

 

[STDFR33]

If you breach the threshold you must register. It doesn’t matter if you breach it after one day, you need to register.

 

[last of the summer wine]

If you breach the threshold you must register. It doesn’t matter if you breach it after one day, you need to register.

Thought so. Thank you.

 

[WaveJumper]

Register for VAT

How to register for VAT, change your details, cancel your registration, register for VAT in EU countries.

www.gov.uk

 

[MyAccountantOnline]

The requirement to register for VAT if your turnover is going to exceed £85k in a 12 month period - is that an actual 12 months? What about if you've only been trading for 6 months and are approaching the threshold, do you still have to register or do you wait until the 12 months is up or nearly up?

It's not a silly question at all. I know you've already had an answer but you may also find it helpful to read this https://www.gov.uk/vat-registration/when-to-register

 

[SC & Co.]

Assuming you are registering could be worth looking into the flat rate scheme (depending the industry) it could be more beneficial.

 

[Paul Norman]

Certainly not a silly question.

And, I do recommend engaging an accountant (you may have already done so), as there are a number of other not silly questions that crop up in the wonderful world of VAT.

 

[bodgitt&scarperLTD]

Certainly not a silly question.

And, I do recommend engaging an accountant (you may have already done so), as there are a number of other not silly questions that crop up in the wonderful world of VAT.

No question about VAT can be considered silly given the fines and stress should you plough on regardless and get it wrong!