This tax information and impact note is about the rise to the thresholds at which businesses must register or deregister for VAT, from April 2024.
Details
This measure confirms the threshold businesses must register for VAT has increased from a taxable turnover of £85,000 to £90,000. It also confirms that businesses may deregister for VAT if their taxable turnover goes below £88,000, a rise from £83,000.
This measure will take effect from 1 April 2024.
Source gov.uk
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