When first setting up your business, there are multiple decisions to make – and a key consideration will be whether to register the business for Value-Added Tax (VAT), the tax that’s added onto the price of certain goods and services. When does VAT registration become mandatory? When your business’s turnover reaches £90k over any rolling period […]
Tag Archives: vat
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Back to Tax Basics: How does VAT work? Value-added tax (VAT) is a consumption tax that’s levied on goods that have had value added at each stage of the supply chain. Most businesses with annual sales of £90,000 or more have to register for VAT. And even if your sales are below that level, you […]