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Post Info TOPIC: VAT Query


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VAT Query
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I have a client who says he has registered as voluntary vat.

He does have paper work showing registration. His turnover is not up to vat levels yet and it is only his first year.

The quarterly period ended on 30th November, when has his return got to be in for, and is he correct in getting himself registered as voluntary.

Please advise !



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If you do it online (not sure if you now need to or not) you get until the 7th January 2012. I have a client with the same period end.

Kris

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Thanks

I have not done a voluntary one before, Is the same as doing a standard one?



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Hi Alfie,

yes, exactly the same

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



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alfie wrote:

I have a client who says he has registered as voluntary vat.

He does have paper work showing registration. His turnover is not up to vat levels yet and it is only his first year.

The quarterly period ended on 30th November, when has his return got to be in for, and is he correct in getting himself registered as voluntary.

Please advise !


Hi Alfie,

This is most likely one of two things:  He has large pre-trading expenditure or he sells mainly to VAT-registered businesses.  

If his customers are not registered for VAT, in the main, then this may not have been the correct course of action.

Regards,

Tim



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Personally I always tell clients that the end of month rule still applies as they very often try to push it over month end but yes, deadline is the 7th following the month end after the period ended.

I registered voluntarily for VAT as all my clients are VAT registered except one and you do returns etc in exactly the same way as you would for a company that has to register. Once they are reigstered there is no difference whatsoever.

Whether he was correct in registering depends on a few things as Tim says above. Has he told you why he registered?

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