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News - 20 March 2014

Changes to VAT Registration and Deregistration Thresholds

From 1 April 2014 the VAT registration threshold will be increased from £79,000 to £81,000 and the deregistration threshold from £77,000 to £79,000.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“Whilst the thresholds change every Budget it is very important to take note of these thresholds as late registrations nearly always result in penalties. When a trader is supplying private individuals a late registration can bring about even bigger problems as the customer is unlikely to accept a VAT only invoice and therefore the VAT assessed has a significant impact on any profit. If you have any VAT registration issues or late registration issues that you would like assistance with, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help.”

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients
Mindful of our client’s long term strategic goals

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