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Posted Sun, 06 Mar 2022 11:17:47 GMT by skye0125
My partner and I have a partnership together and the income for the last 12 months has been more than the threshold of £85k. When it comes to VAT registration, is it the partnership that is required to register for VAT, or would it be considered as 2 different incomes meaning the £85k threshold doesn't apply in this instance? Thank you!
Posted Mon, 07 Mar 2022 09:51:07 GMT by HMRC Admin 17

It would be the partnership which would need to register for Vat as that is the entity you are trading as .

If you were two seperate individual entities and unconnected then you could look at your own individual turnover as sole traders to decide when you reach the Vat threshold but if you are acting as a partnership then your turnover is the turnover of the partnership so if this has been breached then you would need to register

For Vat as a partnership.

Please see guidance below:

Who should register for VAT (VAT Notice 700/1)   .

Thank you.

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