VAT Basics: Should Small Businesses and Startups Register Voluntarily?

• Small businesses/start ups have the option to register for VAT voluntarily
• Voluntary registration can provide certain benefits for businesses
• It allows businesses to reclaim VAT on their purchases
• It can make the business appear more professional and established
• It may be beneficial for businesses that plan to expand and exceed the VAT threshold in the future
• However, there are also potential drawbacks to voluntary registration, such as increased administrative burden and potential cash flow issues
• It is important for businesses to carefully consider their individual circumstances and consult with a professional advisor before making a decision.

Source: marcusward.co

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

---

---