Hi,
Was told if my company turnover was over £50k should be VAT registered...but then told by another accountant it depends on my product/service?
Can anyone tell me for definite??
Many thanks
Should I be VAT registered?
2 posts • Page 1 of 1
by paultaylor@vatease.c on Tue Jul 12, 2005 3:42 am
The answer is both.
If your "taxable turnover" exceeds £60,000 during a 12 month rolling period then you are required to register for VAT.
Taxable turnover includes any income that attracts UK VAT at 17.5%, 5% or 0% but excludes exempt transactions and transactions deemed to have been made outside the UK.
For a quick guide take a look at the 1 Minute Guide To VAT on this site (see 1 Minute Guides in the menu on the right hand side).
Regards
Paul Taylor
http://www.vatease.co.uk/
If your "taxable turnover" exceeds £60,000 during a 12 month rolling period then you are required to register for VAT.
Taxable turnover includes any income that attracts UK VAT at 17.5%, 5% or 0% but excludes exempt transactions and transactions deemed to have been made outside the UK.
For a quick guide take a look at the 1 Minute Guide To VAT on this site (see 1 Minute Guides in the menu on the right hand side).
Regards
Paul Taylor
http://www.vatease.co.uk/
- paultaylor@vatease.c
- Posts: 397
- Joined: Wed Aug 06, 2008 3:02 pm
2 posts • Page 1 of 1
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