VAT - a measure of business performance
Registering for VAT
If you're a business and the goods or services you provide count as what's known as 'taxable supplies' you'll have to register for VAT if either:
- your turnover for the previous 12 months has gone over a specific limit - called the 'VAT threshold'
- you think your turnover will soon go over this limit
The threshold changes - usually once a year, announced in the Budget - check your turnover against the current threshold at
www.hmrc.gov.uk.
Information on VAT registered business, by sector, is available on the NOMIS Labour Market Statistics Website at
www.nomisweb.co.uk.