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One of my clients is an artist and has just completed a big order from a wealthy customer in America for £120 000.
The sale of these paintings meant that his turnover in the 12-month period to 31 January 2023 exceeded the registration threshold of £85 000 producing a registration date of 1 March 2023. As the sale was zero rated as an export of goods we asked HMRC for an exemption from registration on the basis that returns would be repayments in the future.
However HMRC has rejected our request because my client cannot guarantee that his future sales will all be exports – in the past he has done some UK sales but only for about £10 000 to £20 000 each year.
He doesn’t want to register for VAT because his UK customers are private individuals and he doesn’t have much input tax...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
