VAT registration

Question 1

What are the compulsory registration tests?

Answer 1

Historic turnover test

• Taxable supplies in the last 12 months exceed £85,000
• Perform test at the end of each month

Future test

• Taxable supplies in the next 30 days is expected to exceed £85,000
• Perform test constantly

Question 2

When must HMRC be informed after using historic and future test?

Answer 2

Historic turnover test:
Within 30 days of the end of the month in which the threshold is exceeded

Future test:
By the end of the 30 day period in which the threshold is expected to be exceeded