VAT Registration is compulsory when annual turnover exceeds the current threshold limit, so it is wise to start monitoring the results as soon as you start invoicing regularly over £7,000 per month.
Voluntary Registration however can benefit cash-flow if you think your customers will be VAT registered. They will not mind being charged VAT and you will be able to reclaim the VAT you have to pay, e.g. on your computers, vans, rent, etcetera. For details of HMCEs VAT registration application click here.
Contact us to discuss which scheme, including the flat rate schemes, would suit your business, and we can organise a personal visit in the comfort of your own office or home. Contact us for more information.