VAT threshold 2010

VAT registration



As you know every business in the UK, which has the turnover of more than £70,000 has to register for VAT.

In the UK you can register for VAT if you are a taxable person. The definition of the “taxable person” is an individual or an organization that is in the business.

But if the business you do sells goods or provides services that belong to the group of goods and services outside the VAT system, you don’t have to register for Vat at all.

VAT registration is only available for businesses. To register you have to contact your Customs and Excise local VAT office. When you fill in all the required forms and the office will approve your request, you’ll get VAT-registration number and certificate.

Depending on different external factors, VAT registration can take you from 3 to 6 weeks. You can ask a special firm to do everything for you. This way you’ll avoid dealing with documents and so on.

Remember that you have to start VAT registration process as soon as your turnover exceeds the threshold. If you register too late you’ll definitely have to pay a fine.