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, 2021In simple terms, you should register if in the last twelve months you have turned over more than £85,000, and you should do this within 30 days of the last day. However, if you are trading with VAT registered businesses then you should consider registering anyway because you will be able to claim back the
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