Vat registration

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VAT Registration
ZDK Formation Limited
https//www.zdkformations.co.uk
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Registration is the process of obtaining
certificate of registration (RC) from the
authorities under the VAT Acts. A dealer
registered under the VAT Acts is called a
registered dealer. Any dealer, who intends to
carry on the business of purchase and sale of
goods in the State and is liable to pay tax,
cannot carry on the business unless he is
registered and holds a valid registration
certificate under the Act.
VAT Registration
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When is VAT registration compulsory?

• Currently, if the annual turnover of your
  business is more than 83,000, you must register
  for VAT. Remember that the amount mentioned here
  is turnover and not profit. So, if you cross
  this figure, youre liable to pay the taxes and
  national insurance. Also, it is essential to
  consider all the taxable supplies, even if the
  rate is 0, except the items that are VAT exempt.

VAT Registration
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Is it wise enough to voluntarily register for VAT?
Value Added Tax, or VAT, is imposed on almost
everything we buy or sell. Moreover, if you are
earning above a certain amount from your
business, then you have to register for VAT. And,
if you earn below that amount, then you may
register if you want. But, the thing to
understand here is, is it essential to do so?
VAT Registration
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If after voluntary VAT registration, you face the
negative effects and decide to de-register the
business from VAT, then you may do so. You can
step back anytime until the turnover amount of
your business is less than the threshold value.
  Moreover, youll also have to de-register from
VAT if your business discontinues making taxable
supplies or becomes part of a group. Selling a
business or having a variation in its legal
structure will also require you to
de-register.and, if you want to end trading, then
youll have to notify the HMRC and the Companies
House.
VAT Registration
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Contact Us
ZDK Formation Limited
https//www.zdkformations.co.uk