VAT Turnover - debtors?

[Ali123]

Hi all,

Turnover from one of my companies last year (2018) was 77K (not vat registered).
With debtors amount of around 30K included in the turnover figure (invoices raised, but not yet paid)

Now the next year (2019) we are at turnover again 77K with few weeks left of the financial year, and we are looking that atleast 20K from debtors amount to be paid this month (from 2018).

Will this take me over the VAT Threshold and therefore need to register. Or is this still under as it relates to previous figure as it was included in turnover sales amount for the previous year?

Advice?

Thanks.

Ali

 

[Scalloway]

VAT is based on monthly rolling turnover, so it is the date invoices are raised that matters, not when they are paid.

 

[pabmans.co.uk]

Hi Ali,

When your VAT taxable turnover is over £85,000, you register for VAT. VAT taxable turnover is the total value of everything you sell that is not exempt from VAT.

This threshold is based on a rolling 12 months so when you look at the latest 12 months and your VAT taxable turnover is over £85,000, you must register.

You can register voluntarily if your turnover is less than £85,000.