If your business’s VAT taxable turnover is more than £82,000 (the threshold), registering for VAT with HM Revenue & Customs (HMRC) is mandatory. When you register, you will receive a VAT registration certificate. From the date of registration, you need to charge the right amount of VAT, pay any VAT due to HMRC, submit VAT returns, and keep VAT records.

How to register for VAT
You can both register online under one VAT number or register by post and send it to HMRC. This way, you can register for VAT. After you are registered, you will have to complete VAT returns online.

When to register for VAT
You must register for VAT if:
• The value of your taxable supplies in the previous 12 months period exceeds the £82,000 (the threshold)
• You expect the taxable supplies to go over the registration threshold in the next 30 days
• You receive goods worth more than £82,000 in the UK from EU

As you soon as you supply any gods and services to the UK, you must register. In case if you register late, you must pay what you owe from when you should have registered.

If your VAT taxable turnover exceeds the threshold temporarily, you can also apply for a registration exception. You will also have the option of registering voluntarily if your taxable turnover is less than £82,000.

If you are no longer eligible to be VAT registered, you must cancel your registration. For cancelling your registration, you can do it either by online or by post but within 30 days. If you fail to do so, a penalty can be charged.

To confirm de-registration and the official de-registration date, HMRC usually takes 3 weeks. They will send the confirmation to your VAT online account.

If you want expert advice on VAT registration process, you can contact our Harley Street Accountants at 020 7060 9556.