Used car dealer and paying vat ?

[Deepreddave]

MustangGT said:

I believe that if you turnover just over £7k/month you would need to register for VAT immediately as you will be expecting to exceed the £85k during the year.

Just came across this so thought it worth correcting a misunderstanding in case anyone reads it. VAT registration is only required once your turnover for a rolling 12mth period exceeds the annual limit or if you expect to exceed it in any single 30 day period - see https://www.litrg.org.uk/working/vat-when-running-...

[MustangGT]

Deepreddave said:

MustangGT said:

I believe that if you turnover just over £7k/month you would need to register for VAT immediately as you will be expecting to exceed the £85k during the year.

Just came across this so thought it worth correcting a misunderstanding in case anyone reads it. VAT registration is only required once your turnover for a rolling 12mth period exceeds the annual limit or if you expect to exceed it in any single 30 day period - see https://www.litrg.org.uk/working/vat-when-running-...

I would prefer links to the original rather than a third party, who may get it wrong.

E.G. https://assets.publishing.service.gov.uk/media/652...

In this case you are correct in the detail, I stand corrected.