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Dear sir,
I appreciate your effort to deliver us a well explained lecture. Big thanks for that.
Sir I have a doubt in the example that you explained how both historical and future test will impact the VAT registration date.
Sales- July 25,000 august 45,000, sep 85,000 business commenced on 1st July. Since the registration is effective on 1st sep under future test and 1st November under historical test, is there any rule that we should go for the earliest date or latest date? Or is it simply the decision of the trader what to choose?
Sadly it is not the trader who gets to choose – whichever test should first apply then that will require VAT registration in line with its rules – in this case the future rules test meaning that registration is required within the 30 days and is effective from the start of that period
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