Carousel_Arrow Chat icon_cookie IHT_trust_wills IR35 Combined Shape 2 Group 10 Login Mobile Menu Share Share Email SubMenuMobile Group 9 VAT View_Gallery View_List capital_allow Triangle 2 Copy Close construction cyberpro employment_tax_shares emplyer_solutions entrepreneurs_corps fee_protect Group 7 grant_fund Group i_Clock i_Consult i_Done i_Eligibility_Tick i_Enter i_Filter i_HMRC i_Negative i_Play i_Plus i_Reset i_Support_Legal i_Support_TaxDesk i_Support_VAT i_Tick noun_marketing_1872083 noun_online_2126759 i_download i_meet Group Copy 24 Group 18 noun_electrical_1240755 copy noun_Technology_2125422 noun_Science_2031115 i_tick_bullet_block international_tax patent_box private_client property_sdlt r_and_d reliefs_incentives Search specialist_tax status tax_indemnity valuation YouTube
Markel Tax

29 Oct 2018

Autumn Budget 2018 – VAT thresholds remain unchanged

The VAT registration threshold is the amount of UK turnover or EU acquisitions in a rolling 12-month period, above which a UK business is required to register for UK VAT.

Usually this threshold increased by a few percentage points each year, but was frozen in the Autumn Budget 2017 as we reported here:

The government has extended the freeze of the VAT registration thresholds which will remain at existing levels for two years from 1 April 2020.

The taxable turnover threshold, which determines whether a person must be registered for VAT, will therefore remain at £85,000.

The taxable turnover threshold which determines whether a person may apply for deregistration will remain at £83,000.

This will affect smaller businesses and also those who will be caught by the new rules for Making Tax Digital for VAT, which is due to be implemented from 1 April 2019.

Tagged Value added tax (VAT) services Value added tax (VAT) services
Next article in series

29 Oct 2018

Our comprehensive Autumn Budget 2018 review