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Posted Wed, 24 Aug 2022 08:34:37 GMT by BOBU L
Hi There, I file a self assessment for regular currency trading as income and registered as sole trader, the first page asked if the turnover is more than 85,000 and I understand it is for the VAT so not related to currency trading. As currency trading must over this 85,000 threshold which is not applicable, should I still answer yes to this question? Thanks
Posted Tue, 30 Aug 2022 15:49:03 GMT by HMRC Admin 2
Hi.

If the form asks you if your turnover is above £85000 then answer yes.

You can add a note to say the turnover is exempt for VAT purposes.

Thank you.

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