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VAT threshold increase Dates and taxes

homi Posts: 201 Forumite

8 March 2024 at 11:46AM in Small biz MoneySaving

A quick question about the VAT threshold increase .

I am currently approaching the threshold at nearly 80k but I have a trade show which I want to attend on the 2nd of April which may push me over the current VAT limit .

If the VAT increase is on the 1st of April does this give me another 5k for this tax year so could I submit accounts for this year with a turnover of over 85k if the increase was shown after this date?

I normally make sure that I keep atleast 4k under the threshold as being VAT registered with would be the final nail in my business .

thanks

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VAT threshold increase Dates and taxes

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