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Good day Sir,
Regarding VAT registration …is it that if the taxable supplies for previous 12 mths exceed the 83,000 but the forecast for the following 12 months won’t exceed 81,000…no VAT registration is need?
So is it a case where both criterias must be met for VAT registration or either one can be met for VAT registration to be mandatory?
Your first statement as per the notes is correct but must be split into its 2 components.
If taxable supplies in previous 12 months exceed the registration limit (£83,000 for FA 2016) then compulsory registration is required.
If however the trader believes that taxable supplies in the next 12 months will be below the deregistration limit (FA 2016 £81,000) then he does not have to register
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