We often get asked when our clients should register for VAT. HMRC are very clear about when VAT registration should take place and use the word ‘must’ to make it clear that it isn’t an option but is mandatory under certain circumstances.
You must register for VAT with HMRC if your VAT taxable turnover is more than £85,000 in any 12 month period. Registration is simple and can be done online or through your tax agent, such as ATP Accounting. Once registration has taken place you will receive confirmation of your VAT registration via letter with your VAT number and registration date shown on this VAT registration certificate.
This certificate will state when your first VAT return should be submitted to HMRC and payment made, if your first VAT return isn’t a repayment of VAT to yourself.
From the effective date of registration, you must charge the correct amount of VAT, pay any VAT due to HMRC, submit VAT returns monthly or quarterly and keep accurate VAT records.
We can help with all of the day to day VAT return preparations and filing to HMRC on your behalf. This is a core part of what we offer to many of our current clients.
If you require further information, please visit https://www.gov.uk/vat-registration or contact us directly.