Hi

I see alot of posts on here about how business should be done and I am wondering if they have a business to back up their comments as it is very easy to be a back seat driver without knowing how to drive, a good guide to a business without seeing their books is to see a genuine VAT number then at least the turn over will be over 58k. I have 3 businesses 2 very successful and 1 a hobby. GT Speed Ltd is VAT reg because it has to be due to sales volume as is GTS Supplies but Models4hobby has a long way to go. So the question is hands up true VAT companies :hitwall:

Please note that some business sell exempt goods and so cant register for VAT. This doesnt mean their turnover is less that the limit! And doesnt mean they are not a valid business either

What does it matter - and why the concern- ?

Im very new too all this but am told you dont need to register for VAT until your turnover is £64k.

What sort of things are exempt goods James?


Sorry if i ask too many questions on this site and may be get involved more than i should but ive learned and am still learning so much its amazing!!!!

I have one or two companies that are VAT registered

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www.hardwareheroes.co.uk - UK Specialist dropshipper - first class service / first class post

My last business was VAT exempt, but many times the £67k threshold.

Current business is a start-up and still awaiting a VAT registration number from February (I have moaned about this in many posts, so won't do it again here), as we will breach the threshold within the first 2 months of trading.

Couriosity and for the amount of items that are non VAT those companies will be few, but it will show those who are real and not just blowing hot air when it comes to comments about business as vat, tax and trade law are important and would like to see who is making it work

I have just turned 19 and in the past have purposefully tried to stay under the threshold while i was at school - too much hassle. The dropship business i ran was within a couple of thousand of threshold after 3-4 months of trading just from TWF sales.

My new venture will soon require me to VAt register and it has been running about 2 weeks.

Originally Posted by uhafmail

My new venture will soon require me to VAt register and it has been running about 2 weeks.

Word of advice - if you want to be registered, apply as early as possible, as it can take up to 6 months to get your application approved.

On their website, it says that they can do it in anything from 3 weeks, but they are currently working on applications from about the middle of February.

I never knew there was a limit, how long has it been there for