Budget 2024: VAT Registration Threshold Increased by £5.000
- Zion Accountants
- Apr 1, 2024
- 1 min read
What's Changing?
From 1st April 2024, adjustments will be made to the VAT registration and deregistration thresholds. The taxable turnover threshold for registration will rise from £85,000 to £90,000, while the threshold for deregistration will increase from £83,000 to £88,000.
Who Will Be Affected?
These modifications will primarily impact businesses with taxable turnover ranging between £85,000 and £90,000 for registration and between £83,000 and £88,000 for deregistration.
Why Is This Important?
These alterations hold significant implications for businesses, especially concerning tax obligations, cash flow management, and adherence to tax regulations.
During these changes, Zion Accountants is ready to provide assistance. With our expertise and specialized knowledge, we can guide you through the new tax regulations, ensuring that your company remains compliant and well-prepared. Get in touch with us today for a personalized accounting advisory.
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