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At the moment, the current threshold for compulsory VAT registration is VAT taxable turnover of more than £77,000 in the last 12 months.  This is a rolling measurement – if you look at the year to 30 June and you are under, you then need to review for the year to 31 July, and so …

HM Revenue and Customs (HMRC) first made businesses file their VAT returns online in April 2010.  This ruling applied to all businesses with a turnover in excess of £100,000, plus all new registrations. From April 2012, virtually all VAT registered businesses will have to file their VAT returns online.  See here for more details. NB …

If you’re not registered for VAT and your taxable supplies have exceeded £73,000 in the last 12 months, you MUST register for VAT. However, many businesses do not have that level of turnover, or may not have traded a full 12 months, and register VOLUNTARILY for VAT.  So should you do it? There are several …

HM Revenue and Customs (HMRC) have recently announced that they will be sending letters to over 40,000 businesses who they consider should be VAT registered, but who are not, outlining how they can register and pay their VAT.  The deadline for responding is 30 September and the concession for coming forward voluntarily is a lower …

  Value added tax (VAT) registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them.  The VAT system is policed by HM Revenue and Customs (HMRC) with heavy penalties for breaches of the legislation.  Ignorance is not an acceptable excuse for …