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Forum - VAT help
VAT help
Thu, 26/05/2011 - 11:52 — sianadams
A real simple question! My company's turnover exceeded £73k in March 2011. I registered it for VAT and the certificate arrived in the post with an effective date of 1st May 2012, do I start charging output tax from the 1st May or should I also allow for VAT on sales in April? I thought as the turnover exceeded the threshold in March anything after this is subject to output tax but now I am confused!
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You have to charge VAT from the date of registration - in your case 5 April. So yes you do need to re-invoice from then. I assume that you went over the threshold some time ago.
Hi
I have a query on effective registration date. I have started a new company and my certificate was issued on 3 October with effective date backdated to 5 April. While I can reclaim my purchase invoices VAT from 5 April, does this mean I have to reinvoice my sales invoices or is output VAT only applicable post 3 October?
Any help would be greatly appreciated!!
I've just joined the forum so you may have already acted on this. As you have signified 31 March 2011 as date you first exceeded the threshold (NB threshold to 31 March 2011 was £70K- £73 from 1 April) the compulsory registration date, ie the date you first start charging VAT would be 1 May 2011 (not 12?!) so any sales in April on that basis are not subject to VAT, as the compulsory registration date is effectively one month after the date you first hit the appropriate registration limit. OK?
I assume that you mean 01/05/11 - yes start charging vat from that date.
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