We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
vat advice
Options

jonnysparks
Posts: 27 Forumite
hi
run a small business and just wondering about the vat threshold.
if let's say the last invoice of a financial year i was payed for took me over the limit would i then be liable to pay vat for all the income for any money earned in that financial year.
basically just wondering when i need to apply
many thanks
run a small business and just wondering about the vat threshold.
if let's say the last invoice of a financial year i was payed for took me over the limit would i then be liable to pay vat for all the income for any money earned in that financial year.
basically just wondering when i need to apply
many thanks
0
Comments
-
VAT does not work on financial years, but on 12 month periods. You need to be keeping a rolling total of your income covering the previous 12 months and once you reach the limit, then you register.£705,000 raised by client groups in the past 18 mths :beer:0
-
What is the VAT threshold is it £65,000 ,i have been worrying about this myself ,i,m quite close i think?0
-
It went up to £68k in the budget.£705,000 raised by client groups in the past 18 mths :beer:0
-
If I am charged VAT by a builder, and I find out he isn't VAT registered, can I write to him and ask for the VAT element back?0
-
Yes, in fact you shouldnt have paid him in the first place. I would also report him to HMRC as this is obviously a regular scam.£705,000 raised by client groups in the past 18 mths :beer:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.8K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards