What is the VAT registration threshold?
April 28, 2022
What is the VAT registration threshold?
Circumstance | Threshold |
---|---|
VAT registration | More than £85,000 |
Registration for distance selling into Northern Ireland | More than £70,000 |
Registration for bringing goods into Northern Ireland from the EU | More than £85,000 |
Deregistration threshold | Less than £83,000 |
Completing simplified EC Sales List | £106,500 or less and supplies to EU countries of £11,000 or less |
Can I register for VAT before I reach the VAT threshold?
Benefits of VAT-registration
Drawbacks of VAT-registration
VAT accounting scheme thresholds
Flat Rate Scheme
Cash Accounting Scheme
Annual Accounting Scheme
Threshold to join scheme | Threshold to leave scheme | |
---|---|---|
Flat Rate Scheme | £150,000 or less | More than £230,000 |
Cash Accounting Scheme | £1.35 million or less | More than £1.6 million |
Annual Accounting Scheme | £1.35 million or less | More than £1.6 million |
When do I need to register for VAT?
Can I get avoid registering for VAT?
If you registered... | Then the penalty rate will be... |
---|---|
No more than 9 months late | 5% |
More than 9 months but no more than 18 months late | 10% |
More than 18 months late | 15% |
Deregister from VAT
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