When to register for VAT
New VAT late filing penalties
March 15, 2023Now that all VAT-registered traders must submit their VAT returns using MTD compatible software (unless they have been granted an exemption), HMRC has introduced a new penalty regime to punish late filing. For VAT periods beginning on or after 1 January 2023, a point is awarded for each late VAT return. A £200 penalty is
Read More When Should you be VAT registered?
May 17, 2021When do you need to register for VAT? You must register for VAT if your taxable turnover exceeds £90,000 in a rolling 12-month period (current threshold for 2025/26). You must register: Within 30 days of the end of the month in which you exceeded the threshold Once registered, you must begin charging VAT from your
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