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You are here: Home » Archives for vat registration

vat registration

Your business should register for VAT if your “taxable supplies” over the past 12 months has exceeded the VAT registration threshold.
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In the first in a short series of Value Added Tax bulletins for small businesses, Les Howard looks at what VAT is, and when you must register your business.
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Value Added Tax (VAT) is a tax on the final consumption of certain goods and services in the home market but is collected at every stage of production and distribution. Most business-related goods and services will therefore be subject to VAT.
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The latest Government statistics show that the number of VAT-registered enterprises grew by 3% during 2007, reaching over 2 million by the start of 2008.
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