What is VAT and do I need to be registered for it?
Value Added Tax, or VAT, is a tax applied to the majority of goods and services. Any business or trader with a turnover exceeding £64,000 in a twelve month period must be VAT registered but businesses with a turnover less than the threshold may become voluntarily registered. HM Customs & Excise operate a number of schemes to make VAT easier for businesses to manage.
