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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 7053
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

I have a start-up and I have some questions regarding VAT,

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Hi, I have a start-up and I have some questions regarding VAT
JA: Have you talked to a tax professional about this?
Customer: Not yet
JA: Anything else you want the Accountant to know before I connect you?
Customer: I would also like to ask some general questions about the self-assessment form that I will need to complete

Hello and welcome to JustAnswer. I am here to help you. Please expand on your question and I will respond to you shortly.
Many thanks

Customer: replied 9 months ago.
I have a start - up, It is only 7 months old. I believe that that the business has to have an income of 85k before it is mandatory to register for VAT. The business has made 20k. I would like to know what the upsides and dis-benefits to registering for VAT before it is mandatory.

Thank you for your question.uals

Please advise

- are your customers VAT registered or private individuals

- what is the nature of your business

- do bulk of your purchases carry VAT

Many thanks and other Tax Specialists are ready to help you
Customer: replied 9 months ago.
The customers are VAT registered - they are business. The business is a consultancy. All of the purchases carry VAT

I thank you for accepting my answer.