Vat thresholds - Clearing out stock .

sidneyyoungblood

A quick question about VAT thresholds .

Since the start of the year I have turned over 30k which is alot higher than I normally do ( I try to stay at around 7k a month ) , mostly due to trying to clearout alot of my items which I have had either too long or overpaid on so is being sold at cost ( sometimes less ) .

Every year from November to May I am busy then it dies off in spring and the summer where I normally buy / restock .

I know that the VAT threshold 90k rolling over a 12 month period and I am currently well under that at around £76k but with MTD starting in April and the quarterly submissions will they do the maths on that period and say that I am expected to be over vat threshold ? or in theory could I sell £60k within 4 months then stop selling and start again when it picks up later on in the year.

I would like to sell around another 20k in the next couple of months - would this cause any issues - on the rolling yearly basis I would be around the 80k mark.

Its not common for me to turn over so much but like it said I need to sell as I looking to move so need to clearout alot of stuff and raise some funds. Any advice would be appreciated .

Woodstok2000

The VAT threshold is annual ( rolling 12 months) and is only assessed on that basis, so variable monthly turnover isn't an issue.

You do need to register as soon as you expect your turnover to go over £90k, but should t be an issue for you.

sidneyyoungblood

Thanks , just got a bit paranoid after someone told me the reason they were introducing MTD was to both what quarterly turnover and eventually bring the VAT threshold down once people got use to submitting quartely.

Thanks again