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Rv F1321001 Manchester Tn Form

Rv F1321001 Manchester Tn Form

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if the taxable turnover of your business goes over the threshold you need to register for value added tax also known as vat you can only charge vat if you're registered so make sure you register within 30 days of going over the threshold if you're late registering you'll have to pay the vat youo and a penalty may be charged so what is taxable turnover it's the total value of everything you sell which isn't vat exempt or where vat doesn't apply you can find out more about taxable turnover on gov.uk there are other reasons why you need to register for example if your business is based outside the UK but you sell goods or services in the UK the threshold doesn't apply to you so you need to register straight away if you're taking over business which is already or should be paying vat you'll need to register you can also register voluntarily even if the turnover of your business is below the threshold but you'll

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