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Posted Sat, 09 Nov 2024 18:19:08 GMT by aarond123
i'm just starting as a courier for a company and they either pay me including or exluding VAT (this is the first time of going self-employed) I know i need to be VAT registered to recieve VAT on my wages but do i need to do anything after that? do i need to put it aside and pay it to HMRC? i would earn probably no more than 50K a year inc VAT so is it worth me registering for it in the first place or would i actually be better off registering?
Posted Mon, 11 Nov 2024 17:01:51 GMT by HMRC Admin 19 Response
Hi,
If you are self employed and making taxable supplies then there would be a requiremenet to register for VAT if you are breaching the registration threshold of £90000.
If you are trading below that threshold then you can register for VAT voluntarily. You can see guidance here:
Working out whether you need to register
Thank you.

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