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VAT registration when turnover fluctuates.
A recent client of ours a UK resident individual has been acting as a sole trader for many years providing services that ordinarily would be subject to VAT. Until now she was not aware of her obligations to register and charge for VAT and has not notified HMRC of her chargeability.
The situation appears to be that the VAT registration threshold was first reached in the 12 months to February 2013. It is then agreed that registration should have been notified by 31 March and VAT charged from 1 April that year.
However we noticed that from May 2014 for eight consecutive months turnover was below the VAT deregistration threshold so that it would have been acceptable for the trade to apply for deregistration...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
