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Where Taxpayers and Advisers Meet

Selling Alcohol - do you have to be VAT Registered from Day 1 ?

whiskyman
Posts:6
Joined:Fri Mar 04, 2016 2:56 pm
Selling Alcohol - do you have to be VAT Registered from Day 1 ?

Postby whiskyman » Mon Feb 27, 2017 8:36 pm

In a month's time I am due to begin selling alcohol online. We are based in the UK but will be selling worldwide.

As alcohol is subject to VAT, will we need to be VAT registered from Day One e.g. does the trading up to the VAT threshold be irrelevant to us because we are selling a product which is subject to VAT when we purchase it and sell it anyway?

Thank you for any help anyone can give.

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Selling Alcohol - do you have to be VAT Registered from Day 1 ?

Postby pawncob » Tue Feb 28, 2017 9:55 pm

No. You don't have to register unless you exceed the threshold OR you expect to exceed the threshold. It's probably best to register from the outset.
With a pinch of salt take what I say, but don't exceed your RDA

whiskyman
Posts:6
Joined:Fri Mar 04, 2016 2:56 pm

Re: Selling Alcohol - do you have to be VAT Registered from Day 1 ?

Postby whiskyman » Wed Mar 01, 2017 11:35 am

Thank you for your reply. May I ask why it is best to register at the start of us trading then? Thank you again.

Mike

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Selling Alcohol - do you have to be VAT Registered from Day 1 ?

Postby pawncob » Wed Mar 01, 2017 11:52 am

It depends on what your T/O will be. It will; be simpler if you're registered before you are forced to be registered.
https://www.gov.uk/vat-registration/calculate-turnover

and don't forget:
https://www.gov.uk/hmrc-internal-manual ... /vexp20200
With a pinch of salt take what I say, but don't exceed your RDA


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