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Old 24-01-2005, 22:53   #198
Doofy
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Join Date: Jan 2004
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Re: [Merged] Speed Upgrade-*ALL* Speed Upgrade Posts In Here Please

Most probably but not all businesses have to register for vat though as far as i am aware. Ther are a exceptions whilst doing my business plan i would not have been required to be vat registered.

Your taxable supplies, distance sales, or acquisitions are not expected to exceed £56,000 in the next 30 days, and have not exceeded £56,000 in the past 12 months...

Then:

VAT registration is not necessary in these circumstances although businesses can register for VAT on a voluntary basis to be able to reclaim VAT on purchases. Anyone who registers will also have to account for tax on their sales, where appropriate. Apply to your local VAT office on form VAT1.
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