VAT - Registration

Recently added Tips & Advice

BUSINESS SPLITTING - 01.07.2024

Should you form a separate entity for a new venture?

You are starting a new business and your sales are not expected to exceed the registration threshold until your third year of trading. Should you form a separate legal entity for this business?
Read more

VAT GROUPS - 08.05.2024

Buying shares in a business: should you form a VAT group?

Your business has purchased the shares in a company that only makes exempt sales and is not registered for VAT. You intend to make management charges to the new company, so should you apply to HMRC for a group registration?
Read more

VAT - 17.04.2024

Avoiding the VAT registration cliff edge

Although the Chancellor announced an increase to the VAT registration limit in the Spring Budget 2024, it was relatively modest. As a service business if your turnover exceeds the new limit can you legitimately avoid having to register?
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? ...
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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?
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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? ...
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VAT - Registration

Most read Tips & Advice

VAT - 17.04.2024

Avoiding the VAT registration cliff edge

Although the Chancellor announced an increase to the VAT registration limit in the Spring Budget 2024, it was relatively modest. As a service business if your turnover exceeds the new limit can you legitimately avoid having to register?
Read more

BUSINESS SPLITTING - 01.07.2024

Should you form a separate entity for a new venture?

You are starting a new business and your sales are not expected to exceed the registration threshold until your third year of trading. Should you form a separate legal entity for this business?
Read more

VAT GROUPS - 08.05.2024

Buying shares in a business: should you form a VAT group?

Your business has purchased the shares in a company that only makes exempt sales and is not registered for VAT. You intend to make management charges to the new company, so should you apply to HMRC for a group registration?
Read more

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