New Green Freeports for Scotland
26/01/2023 – The UK and Scottish governments have jointly annou … More...
The taxable turnover threshold, that determines whether businesses should be registered for VAT, is currently £85,000.
The taxable turnover threshold that determines whether businesses can apply for deregistration is £83,000.
It was confirmed as part of the Autumn Statement 2022 measures that the taxable turnover registration and deregistration thresholds will be frozen at the current rates until 31 March 2026.
Businesses are required to register for VAT if they meet either of the following two conditions:
The registration threshold for relevant acquisitions from other EU Member States into Northern Ireland is also £85,000.
Businesses with no physical presence in the UK may also have a liability to be VAT registered in the UK if they supply any goods or services to the UK (or are expected to in the next 30-days).