Wednesday, 18 June 2014

Going over the VAT limit

Did you know that if you inadvertently go over the VAT limit with your sales but it is unlikely to happen again then you need to write to HMRC and explain that this has happened.

In the future when your sales really increase and go over the VAT limit and have to register, without that letter HMRC, will apply the VAT registration back to the time you accidentally went over the limit - even if that is many years ago.   Imagin the horror of the VAT bill... 

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