Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Mon, 22 Jan 2024 07:35:29 GMT by
My current turnover for the last 12 months is £75K and it is expected to cross the £85 threshold by Middle of February 2024. I am trying to register for VAT online and struggling to identify the question that will help me clarify the same. There are two questions about threshold: Q1 - Has the business’s taxable turnover gone over £85,000 in any 12 month period? This is not the case and I can safely answer NO Q2- Does the business expect to make more than £85,000 in a single month or a 30-day period? ( HMRC Guidance for this question - This could happen when, for example, on 16 April a business wins a big contract to supply goods or services, which would mean the value of supplies made solely within the next 30 days, by 15 May, are more than the VAT registration threshold.) Answer - I make about £10K a month and NOT expecting to make £85K in a single month or a 30 day period. Based on the current interpretation, I can not say YES to this question. When I answer NO to both Q1 and Q2 - the following question asks " If I am trying to voluntarily register for VAT?" - which is not the case as I will be crossing the £85K threshold. Can someone please help me. Thanks PS : I have found a HMRC guidance on answering VAT registration question and there used to be a question (below) which does not appear any more in the online application. " Are you registering because you had an expectation on any date that your taxable turnover would go over the registration threshold in the next 30 days alone?"
Posted Wed, 24 Jan 2024 16:27:49 GMT by HMRC Admin 20 Response
Hi commercial Specialist,
At the moment you have not breached the Registration threshold and you also don't expect your taxable supplies to breach the threshold in the next 30 days alone.
You are therefore making a voluntary registration even though you know there will be a requirement to register for VAT in the middle of February.
You can therefore choose the date which you want to register for VAT from.
Please see the guidance below:
3. Working out whether you need to register
Thank you.

 

You must be signed in to post in this forum.