Commentary

V16.106 VAT Notes No 1 2014 Budget Supplement

Part V16 Forms and other HMRC material

V16.106 VAT Notes No 1 2014 Budget Supplement

V16.106 VAT Notes No 1 2014 Budget Supplement

This supplement gives details of the changes to VAT announced at Budget 2014. Information on each of the changes is available in HM Revenue & Customs' document “Overview of Tax Legislation and Rates” (Go to https://www.gov.uk/government/collections/budget-2014-hm-revenue-customs)

Increased registration and deregistration thresholds

The taxable turnover threshold, which determines whether a person must be registered for VAT, increased from £79,000 to £81,000 from 1 April 2014. The taxable turnover threshold which determines whether a person may apply for deregistration increased from £77,000 to £79,000 from 1 April 2014. The registration and deregistration limits for relevant acquisitions from other European Union (EU) member states also increased from £79,000 to

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial