Had a great year in business - what about VAT?Back 9 October 2018
Had a great year in business - what about VAT?
If you have had an exceptionally good trading year and exceeded the VAT threshold and now you need to register but you know this good performance is not going to continue - what can you do?
You can apply for a registration ‘exception’ if your taxable turnover goes over the threshold temporarily.
You will need to write to HMRC with evidence showing why you believe your VAT taxable turnover won’t go over the de-registration threshold of £83,000 in the next 12 months.
HMRC will consider your exception and write confirming if you get one. If not, they’ll register you for VAT.
If you have any questions or need any help just get in touch.
Call: 01322 555 442