The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Voluntary VAT registration
Post Info TOPIC: Voluntary VAT registration
dave241283


Newbie

Status: Offline
Posts: 2
Date:
Voluntary VAT registration
Permalink Closed

Hello, I am looking to register a small business (butchers) under a new VAT number, as I took over the business. Turnover is over the VAT threshold when HMRC require businesses to be registered for VAT, but being a butchers all sales are zero rated. Is it possible to register for VAT on voluntary basis instead (I was unsure whether this was an option given the turnover).

 

Thanks



__________________
Rhianrach


Expert

Status: Offline
Posts: 1609
Date:
Permalink Closed

What difference do you think voluntarily registering will make? Voluntary is for business's below the threshold only as far as I'm aware, unless there is a strange quirk somewhere, (which in all honesty would not surprise me with HMRC and VAT).

__________________
Steve
leshoward


Senior Member

Status: Offline
Posts: 292
Date:
Permalink Closed

Voluntary registration is fine, since the sales are entirely zero rated. You can also back-date by up to 4 years, to recover input tax incurred.

__________________
Don Tax


Expert

Status: Offline
Posts: 1716
Date:
Permalink Closed

Dave, taxable supplies at Zero Rate count towards turnover so you it sounds like you must be registered.

http://www.hmrc.gov.uk/vat/start/register/when-to-register.htm#6

See above 'Calculating VAT Taxable Turnover'

Regards,
Tim



__________________
leshoward


Senior Member

Status: Offline
Posts: 292
Date:
Permalink Closed

Strictly, there is an obligation to 'notify' HMRC. When notifying, you are entitled to apply for exemption from registration. This effectively provides your choice to register or not.
However, I suggest you do register, as it will allow you to recover input tax, hence my comment above.

__________________
Don Tax


Expert

Status: Offline
Posts: 1716
Date:
Permalink Closed

Thanks Les.

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Voluntary VAT registration
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About