VAT Registration is compulsory when annual turnover exceeds the current threshold limit.
It is prudent to start monitoring the results as soon as you start invoicing regularly over £7,000 each month. Voluntary Registration however can benefit cash-flow if your customers are VAT registered. They will not mind being charged VAT and you will be able to reclaim the VAT you have to pay on most of your costs.
For details of HMRC’s VAT registration application click here.
Please contact us to discuss which scheme, including the flat rate schemes, would best suit your business. We will be happy to organise a personal visit in the comfort of your own office or home.