VAT Registration

VAT Registration

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I have not had to deal with this before. I am helping a consultant (ex-partner in the firm I work for). His consultancy fees plus reimbursed expenses to the end of October (for a 5 month period) are still below the £82,000 threshold but his consultancy fee for Novermber will push him over the limit. At what point should he register for VAT, before he reaches the threshold on the basis that he knows he will be over the threshold at the time he raises the next invoice or in December once the registration threshold has been reached. HMRC's website states the following:

        You must register for VAT if:

  • your VAT taxable turnover is more than £82,000 (the ‘threshold’) in a 12 month period
  • you receive goods in the UK from the EU worth more than £82,000
  • you expect to go over the threshold in a single 30 day period  

I think that he needs to register before he exceeds the threshold as he knows he will exceed the limit but want to check I have this right.

Many thanks

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By pushtheriver
28th Oct 2015 16:11

Register by 31st December with registration date 1st January

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By jan.wolfsbergen
28th Oct 2015 18:52

Thanks. Will let him know.

Jan

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