From Mollarts Accountants in Darlington
You can’t charge or claim back VAT until you have registered. You can be penalised for not registering for VAT on time, the registration threshold is £83,000 worth of sales in the past 12 months, if you think you may need to register for VAT, please give us a call immediately and we will be able to guide you.
There are several schemes you can use when you have registered, we can advise you on these schemes and which one is right for you and your business.
The rules and regulations surrounding VAT are getting more and more stringent every day. VAT investigations are more intense and unfortunately common, as the VAT man scrutinizes everything a business does – all the more reason for your returns to be completed promptly and accurately.