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Businesses must register for VAT once taxable supplies exceed £90,000 in any 12-month rolling period, with monthly reviews required. Registration is mandatory within 30 days, starting VAT obligations the following month to avoid penalties.
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Registration calculations include all taxable supplies, even zero-rated ones, and hidden turnover elements like leased equipment and barter. Forward-looking turnover triggers immediate registration, while temporary spike relief may apply for one-off income surges with proper evidence.
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VAT registration brings ongoing compliance duties including accurate VAT calculation, timely payments, digital reporting, and record keeping. Group registration offers administrative benefits but joint liability, while international suppliers face zero-threshold registration, necessitating professional guidance.
Source: deeksvat.co.uk
