HMRC’s VAT Notice 700/1: should I be registered for VAT? has recently been updated. The update reflects the fact that the taxable turnover threshold, that determines whether businesses should be registered for VAT has been frozen at £85,000 from 1 April 2019. In addition, the taxable turnover threshold that determines whether businesses can apply for deregistration remains at £83,000.
It was confirmed as part of the Autumn Budget 2018 measures that the taxable turnover registration and deregistration thresholds will be frozen at the current rates until 31 March 2022.
Businesses are required to register for VAT if they meet either of the following two conditions:
The registration and deregistration threshold for relevant acquisitions from other EU Member States is also £85,000.