New digital tool to support businesses with VAT registration
HM Revenue and Customs (HMRC) has launched a digital tool to help non-VAT registered businesses estimate what registering for VAT may mean for them, and their profits.
The VAT Registration Estimator, which is available for free on gov.uk, has been designed to show businesses when their turnover could require them to register for VAT, and what the impact might be on profits.
A VAT-registered business must charge VAT on eligible sales and can usually reclaim it on eligible purchases. The VAT Registration Estimator lets businesses estimate what VAT might be owed or reclaimed when they register. It also links to further information about the registration process.
