VAT threshold

[JosDH]

Hi all

Could someone please confirm these VAT thresholds are correct.

Accounts for the year ended 31 March 2012 is £73k

Accounts for the year ended 31 March 2013 is £77k

Many thanks.

 

[Anna Chandley]

The current VAT registration threshold is £79k but this applies on a rolling 12 month basis not to a particular accounting year.

At the end of each month you need to check your turnover in the previous 12 months to see if you have reached the threshold.

For example on the 30 September 2013 you would look at your turnover from 1st October 2012 to 30 September 2013. At the end of October 2013 you would look at your turnover from 1 November 2012 to 30 October 2013 and so on.

Anna