- KEY POINTS
- Generally once a registration date has been chosen it is fixed.
- Some examples of early and late registration.
- Some recent cases illustrate the points at issue.
- When will the concession to extend the registration apply?
- Has there been ‘an element of departmental error’?
When a new business starts or a small business grows registering for VAT is an important matter to get right. If you register before VATA 1994 Sch 1 requires you to and your customers cannot recover input tax you give away an unnecessary amount of your profits (see Example 1).
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