VAT - Registration

Recently added Tips & Advice

BUSINESS SPLITTING - 26.03.2024

Can company split music business into two and deregister?

Q. My business trades as a limited company, selling musical instruments and giving piano lessons. All lessons are given by me, as I am the sole director and shareholder. The annual fees from lessons are £50,000 but the annual sales of instruments have fallen a lot since the pandemic to £70,000. The company is VAT registered but can I split my business into two legal entities, so that I can then deregister? ...
Read more

DEREGISTRATION - 26.03.2024

Deregistration: an opportunity to escape the VAT club?

After seven years of frozen thresholds, the Chancellor has announced an increase in the deregistration sales threshold on 1 April 2024. What does this mean and what are the pitfalls of deregistering?
Read more

DEREGISTRATION - 28.02.2024

Can my business deregister retrospectively?

Q. My accountant has just finished the year-end accounts of my hairdressing business up to 31 March 2023 and the total sales were £74,000; I also have rental income from two other beauty business owners, who occupy the first floor of my premises, an annual total of £12,000. Can I deregister for VAT back to 31 March as my taxable sales were below the deregistration threshold of £83,000? ...
Read more

VAT - 26.10.2023

How soon should you register for VAT?

You’ve started a business to make a little extra cash. You don’t expect the turnover to ever come close to the VAT registration limit, but might you be required to register anyway, and if not is there an advantage to registering voluntarily?
Read more

VAT - 05.09.2023

Can you legitimately dodge registration?

Because of exceptional circumstances your business turnover has exceeded the VAT registration limit. You’re sure that this won’t be repeated. Must you register and wait to deregister when your turnover falls or is there an alternative?
Read more

VAT REGISTRATION - 27.06.2023

Does an overseas seller benefit from UK registration threshold?

Q. Our company is incorporated in the UK and the office address of our UK-based accountant is the registered address with Companies House. We have no trading premises or staff in the UK and all decisions are made from our head office in Ireland. The company imports and sells stationery to private individuals in the UK but we have not registered for UK VAT because our annual sales are less than the registration threshold of £85,000. But is this correct? ...
Read more
VAT - Registration

Most read Tips & Advice

DEREGISTRATION - 28.02.2024

Can my business deregister retrospectively?

Q. My accountant has just finished the year-end accounts of my hairdressing business up to 31 March 2023 and the total sales were £74,000; I also have rental income from two other beauty business owners, who occupy the first floor of my premises, an annual total of £12,000. Can I deregister for VAT back to 31 March as my taxable sales were below the deregistration threshold of £83,000? ...
Read more

BUSINESS SPLITTING - 26.03.2024

Can company split music business into two and deregister?

Q. My business trades as a limited company, selling musical instruments and giving piano lessons. All lessons are given by me, as I am the sole director and shareholder. The annual fees from lessons are £50,000 but the annual sales of instruments have fallen a lot since the pandemic to £70,000. The company is VAT registered but can I split my business into two legal entities, so that I can then deregister? ...
Read more

DEREGISTRATION - 26.03.2024

Deregistration: an opportunity to escape the VAT club?

After seven years of frozen thresholds, the Chancellor has announced an increase in the deregistration sales threshold on 1 April 2024. What does this mean and what are the pitfalls of deregistering?
Read more

See my Tips & Advice in ...


Enjoy full access to my Tips & Advice

Download the App

Cookie policy