HM Revenue and Customs (HMRC) has launched a digital tool to help businesses estimate the impact of registering for VAT. The VAT Registration Estimator is designed to show when a business’s turnover may require VAT registration and its effect on profits. Businesses must register for VAT if their total VAT taxable turnover for the previous 12 months is more than £90,000, or if they expect their turnover to exceed this threshold in the next 30 days. The tool also helps businesses understand the VAT registration process and is useful for those considering voluntary registration. The estimator has been developed in partnership with small businesses and trade representatives, and aims to support businesses’ understanding of VAT registration.
Source gov.uk
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