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

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