Hi All,
We have just applied to become VAT registered and will start to charge VAT as of February. Our tax year end 31st March 2014.
My question is... when we go into our new tax year (14/15) our company will not have made the £77,000 threshold within that first month, so how do i pay VAT returns in the first quarter when we haven't gone over that threshold?
Hope it makes sense as all this is new to me and I'm still struggling to get my head round it
Thank you in advance
We have just applied to become VAT registered and will start to charge VAT as of February. Our tax year end 31st March 2014.
My question is... when we go into our new tax year (14/15) our company will not have made the £77,000 threshold within that first month, so how do i pay VAT returns in the first quarter when we haven't gone over that threshold?
Hope it makes sense as all this is new to me and I'm still struggling to get my head round it
Thank you in advance