VAT Registration

VAT Registration

A Knotty Problem

PHILIP and SARAH McNEILL warn of the pitfalls when registering for VAT.

KNOW THE ROPES is good advice when undertaking many activities and for many few 'strands' of taxation have more scope to tie members of the public in knots than VAT. TaxAid — the charity that seeks to promote public understanding of tax matters and gives free tax advice to people in financial need — occasionally deals with cases involving VAT. Not infrequently these arise out of voluntary VAT registration; for example the trader who thinks he must register and registers from a date earlier than necessary or the small retail or catering business owner who realises that registration was unnecessary and now wants to put the clock back.