VAT

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hello,

Can someone please explain to me when a business must register for VAT. I know that the business' sale has to reach a certain amount but I'm a bit confused as my book gives two example
1. business must register if it has exceeded the registration limit
2. business must register if it will exceed the registration limit within 30 days

Does it matter if you register before or after?
Thanks for any help

P

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:VAT

    I have recently posted a query on VAT, no-one seems willing to help on this subject as they haven't posted on my query either.

    Anyway in answer to your question, if a company exceeds £60,000 within the financial year they must apply for registration within 30 days of the £60k turnover being acheived.

    or

    if a company expects that their turnover will exceed £60,000 in the coming month then they must apply for registration.



    The form required to apply for registration is the VAT1 form. If they don't register for VAT and HM Revecue & Customs do an inspection they could be liable to pay HMR&C the VAT that should have been charged (which has made some companies to become bankrupt).

    Hope this helps
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:VAT

    Chill

    It might be that no one knows the answer, not that they're not willing to help!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:VAT

    Nice of you to reply to my comments but not to help a fellow member. Have a good day.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:VAT

    With comments like that you are unlikely to get any help!! I replied as I felt your post was rather rude, your second post even more so. If I don't know an answer I won't reply rather than give wrong information

    You had answered pearl's question in full, I could add no further comment.

    Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:VAT

    Thanks Chill,

    I had to read it through a couple of times but I finally got there!! Yes! Thank you very much.

    I hope you will get the answer to your question too. Try re-posting it...
    Thanks again

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:VAT

    Chill

    Why don't you chill out????

    BlueWednesday is one of the nicest and most helpful person on this forum, and her reply didn't warrant your petulant outburst.

    People only tend to reply if they know an answer, and if you continue to treat people with such obvious contempt they won't bother helping out in the future even if they can.

    Tracy





  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:VAT

    I helped a fellow member, I acheived my objective, and due to my what I had written, Pearl was good enought to help me, so all in all it worked out for both Pearl and myself, and everyone else that didn't know the answer.

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