VAT - Changes in registration and deregistration thresholds
The measure
The taxable turnover registration threshold will be increased from £67,000 to £68,000.
The taxable turnover deregistration will be increased from £65,000 to £66,000.
The registration and deregistration thresholds for relevant acquisitions from other EU member states increases from £67,000 to £68,000.
Who will be affected?
Any businesses whose taxable turnover is close to the current VAT thresholds for registration and deregistration.
When?
The new thresholds will have effect from 1 May 2009.
Our view
As expected the VAT registration and deregistration thresholds are increased again.
