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VAT Registration in Peterborough

VAT Registration

If you run a business that is making taxable sales of more than a fixed limit in 12 months you have to notify HMRC and register for VAT. You should note that this is not only supplies of goods or services that are at the standard rate but includes anything that VAT is chargable on (including reduced-rate and zero-rate items and services) but not income that arises from exempt supplies or services.

You also have to notify HMRC if you expect to make taxable supplies in the next 30 days that exceed the VAT registration limit.

In both cases you have a time limit in which you have to notify HMRC, this is within 30 days of either the end of the month that the limit was exceeded or 30 days of the date in which you expect to exceed the limit.

The registration limits from 1st April 2012 are £77,000 per year for mandatory registration and £75,000 for optional deregistration.

If you would like help with VAT registration please contact us, or visit the rest of our site for more VAT Advice in Peterborough.

A specialist Moore Stephens VAT website – click here to go to the main Moore Stephens UK website