VAT limit
At the expense of sounding a little dim.... what is the minimum profit/turnover which requires my very small business to star to pay VAT ....
VAT limit
At the expense of sounding a little dim.... what is the minimum profit/turnover which requires my very small business to star to pay VAT ....
3 replies
Seller_d8YGbIjNqwFxn
If your turnover exceeds £85,000 for the previous 12 month period then you must register for VAT.
This assumes you are a UK based business.
This turnover is across all channels you sell on. It is before any fees/expenses are deducted.
If you are a small UK based business below £85,000 turnover you don't need to worry.
Seller_ZVAz3d5lZuGid
Once your turnover (not profit) gets to £85,000 you need to start paying VAT, but you need to prepare before you get to that level. Once you are VAT registered it means quarterly VAT returns.
For some, if you sell zero rated goods, you can register whenever as could possibly be financially beneficial.
All the info your require is easily found online - HMRC website is excellent.
Spencer_Amazon
Hello @Seller_Ja6Hs0xhUq3Qj,
I am Spencer with Amazon.
I am sharing with you this article, Information on HMRC VAT Notices.
There is a link that takes you straight to the GOV.UK Website.
Regards, Spencer
