From 1st April 2017 the VAT registration threshold will increase from £83,000 to £85,000.
The de-registration threshold also increases from £81,000 to £83,000
The rules regarding VAT registration are governed by turnover on a 12 month rolling period, rather than a calendar or financial period and once these new thresholds are exceeded businesses are required to register within a specific period of time. Penalties are imposed on businesses not adhering to the rules.
You can register for VAT at any time under voluntary registration.
If you think this change will affect you, or you are now needing to register or de-register then please do not hesitate to contact us on 01751-475810