The current threshold for registering for VAT is a turnover of £85,000 (current in Feb 2021) and reporting is usually quarterly. With the introduction of MTD most businesses now need to report using this method and our software can is able to do this.

 

In some businesses it makes more sense to report monthly or to register voluntarily as your situation may benefit from this.

 

Don’t forget, the threshold is assessed on turnover, not profit and you its based on a rolling 12 month assessment period, not determined by your year end or the tax year end.

 

Contact Us

07872 333945

 

karen@organisemybooks.co.uk

 

 

Karen Russell is licensed and regulated by AAT under licence number 1001545. AAT is recognised by HM Treasury to supervise compliance with the Money Laundering Regulations and Organise My Books Accounting Services is supervised by AAT in this respect.