VAT REGISTRATION INFORMATION
To register for VAT you need to fill in one or more forms and submit them to HM Revenue & Customs (HMRC) for approval. If accepted you will then receive a VAT registration number and certificate.
HMRC set out for who and when VAT registration is required at the following link:
The standard requirement for VAT registration is when a company supplies goods over the VAT
threshold, currently £73,000.
Business may, however, also register voluntarily at anytime.
Registering for VAT is a requirement/possibility for a business if the business is:
• supplying goods or services within the UK
• taking over a VAT-registered business from someone else
• receiving goods in the UK from other countries in the European Union (EU)
• supplying goods or services from the UK to other countries
• supplying goods or services to the UK from other countries.
A key criteria for a business to obtain VAT registration in the UK is that the business is
physically trading in the UK.
If the company's place of incorporation/business is outside the UK they must appoint a UK
representative to hold the UK records at a location in the UK.
It is important to note that being registered with UK tax authorities for corporation tax is not
considered evidence that the company has trading activities in the UK.
A VAT registered business must:
• charge VAT on all Vatable supplies made
• prepare quarterly VAT returns
• maintain complete records to support the quarterly returns made
• pay over VAT due within 30 days of the end of each VAT quarter
• be open to VAT inspections should HMRC request a visit.
VAT Schemes available:
There are many different schemes under which VAT is dealt with:
• Standard accounting
• Flat Rate scheme
• Cash accounting
• Second-hand goods scheme
• Retail scheme
• Group or associated company special provisions