There is a lot of fear about VAT registration but in fact it’s not a difficult issue at all. If your turnover is going to be above £70,000 then you must register. If not, then it’s your choice. The key benefit to you is that you can claim back all of the VAT on your start up costs. The downside is that you will need to keep records of vatable income and expenditure so that you can complete the quarterly VAT 100, which can now all be done on line.
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