This site uses cookies to improve your browsing experience and analyse use of our website. By clicking ‘I accept’ you agree and consent to our use of cookies. You can find out more about our cookies here. Find out more

Do I need to register for VAT in 2024? | What is the VAT threshold in 2024?

Do I need to register for VAT in 2024? | What is the VAT threshold in 2024?

Mike Wakeford

What is the taxable turnover for 2023/24
The taxable turnover threshold determining whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold determining whether businesses can apply for deregistration is £83,000.

Businesses are required to register for VAT if they meet either of the following two conditions:
  1. At the end of any month, the value of the taxable supplies made in the past 12 months or less has exceeded £85,000; or
  2. At any time, there are reasonable grounds for believing that the value of taxable supplies to be made in the next 30 days alone will exceed £85,000.
Do I need to backdate my VAT Registration?
This means that you are required to look back over the last 12 months to see if you have a requirement to register for VAT and, at the same time, keep an eye on your future sales if you expect to make taxable supplies over £85,000 in the next 30 days. If this is the case and you make taxable supplies over £85,000, this means you have gone above the threshold and are required to register for VAT.

The VAT registration threshold for relevant acquisitions from other EU Member States into Northern Ireland is also £85,000.

Businesses with no physical presence in the UK may be liable to be VAT registered in the UK if they supply any goods or services to the UK (or expect to in the next 30 days).
Contact Us
If you are unsure if you need to or don’t know how to register for VAT in the UK. Contact us today. We can help you ensure you’re correctly registered for VAT to avoid.