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bigduckontax, Accountant
Category: Tax
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me and my son are scaffolders and just getting ready to put

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me and my son are scaffolders and just getting ready to put are TAX return in for 1 April 2013 to march 2014, and with not knowing, are turn over was £98.000,and we have not charged any VAT on the jobs we took on ,what will we have to do, And what would we owe ,thanks Rob
Hello, I'm Keith and happy to help you with your question.
The enterprise will have to be registered for VAT as soon as possible. Turnover at over 91K requires registration. Technically HMRC can impose a penalty for late registration, but may waive this if you act quickly. For further information on this point see:
You may owe as much as 16.3K in VAT output tax, but remember that there is input tax on all items bought in to the business in the same period, so it might well be considerable less. It's still an 'ouch' situation though.
I am so sorry to have to rain on your parade.
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Customer: replied 3 years ago.

thanks for your help Keith,after I have registered for vat how long would you think they would give me to pay thanks rob

The usual payment time is within one month. You may, having regard to the circumstances in this case, be able to negotiate a more favourable repayment schedule, but any settlement over a month may attract interest charges on the sum outstanding.