Registration – Is It Necessary?

Registration – Is It Necessary? – Pact Accountancy

Registration - Is It Necessary?

If your taxable supplies exceed the set annual number, you must register for VAT (fixed at £90,000 from April 1 2017).

If you are making taxable items over the limit, you can apply for voluntary registration. This allows you to recover input VAT, which will refund if your business supplies a zero-rating. If you have not yet made taxable supplies but want to do so, you can apply for registration. Input tax can be levied on start-up costs in this way.