Starting new business

UK Discussion in 'General Tax Discussion' started by BlingX78, Aug 26, 2018.

  1. BlingX78

    BlingX78

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    I understand this question is really vague but any info would help.
    I currently work for someone and also want to start working for my own Ltd company which I'm looking to set up, just looking for any info about weather my company needs to be VAT registered or not?

     
    BlingX78, Aug 26, 2018
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  2. BlingX78

    Steve-LevelUp VIP Member

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    Sometimes there is a minimum revenue threshold for VAT. I am uncertain of these rules in the UK, but best to contact HMRS directly as i'm sure their site has something like "when to register for VAT"
     
    Steve-LevelUp, Aug 27, 2018
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  3. BlingX78

    Becky Administrator

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    AFAIK there is no minimum turnover, but registration becomes compulsory if VAT taxable turnover exceeds (or is expected to exceed) £85k. For some types of business there can be a cost advantage to registering for VAT, but you also need to consider the burden and cost of the accompanying admin.

    https://www.gov.uk/vat-registration
     
    Becky, Aug 28, 2018
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