Effective 1st April 2012, the VAT registration and deregistration thresholds will be as follows:
- the taxable turnover threshold, which determines whether a person must be registered for VAT, will be increased from £73,000 to £77,000
- the taxable turnover threshold which determines whether a person may apply for deregistration will be increased from £71,000 to £75,000
- the registration and deregistration threshold for relevant acquisitions from other EU Member States will also be increased from £73,000 to £77,000
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