If you run a home
based business and
your taxable
turnover exceeds
£67,000, you should
register for VAT.
The time to register for VAT is:
- at the end of any month in which your turnover for the past twelve months has exceeded £67,000 or
- at any time you have grounds to expect the value of your turnover to exceed £67,000 in the next thirty days.
If you have a turnover of less than £67,000, you can still choose to register for VAT. You might want to do this so you can claim VAT back on purchases or because you want to be seen as a VAT trading business by your customers.