by Nick Robinson | Nov 30, 2014 | VAT
Being VAT registered means that you can add VAT to your sales and can reclaim a VAT on your purchases – even if you do not sell anything during a VAT accounting period. The VAT registration threshold is £67k for a twelve month period. VAT registration is compulsory if you exceed this threshold.
Alternatively there is scope to register with Her Majesty’s Revenue & Customs (HMRC) on a voluntary basis even if your sales are below the threshold. Voluntary registration will largely depend on whom you are trading and whether or not you are trading in another EC country.
What are the different VAT rates
How to register
There is no charge for registering and the process is fairly straight forward -HMRC will provide you with a VAT1 registration form. If you are registering on a voluntary basis you may be asked for paid invoices or additional proof to show intent to trade.