What is the VAT registration threshold?April 28, 2022
What is VAT?
What is the VAT registration 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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