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Posted Mon, 25 Mar 2024 15:56:29 GMT by Retman
I make exempt business supplies but will make a one off sale of an item which I purchased as an investment and paid VAT at purchase but did not recover as i am not VAT registered. If sold in the course of business this item would normally have VAT charged on it and the sale price would be over the registration limit ( circa £90k). Do I need to register for VAT? Thank you.
Posted Tue, 26 Mar 2024 09:48:01 GMT by HMRC Admin 21
Hi Retman,
You would normally have to register for VAT if you breach the Registration threshold.
However you can apply for an exception to registration if this is a one off sale.
Please see the guidance below, sprecifically section 3.7
3. Working out whether you need to register.
Thank you.

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