Hi
Sorry if this asked before I had a look by searching previous threads but I could find anything.
Starting a new business in the new year and I'm trying to work out prices etc for a business plan. I dont expect to hit the vat thresholds in year one, so Im not going to register for vat, but just say 11mths into the business and things take off and I will reach the threshold and then register for vat will I be liable for vat on on the previous 10mths or just from month 11 onwards.
As stated its unlikely but I want to make sure.
Regards
Fi
Sorry if this asked before I had a look by searching previous threads but I could find anything.
Starting a new business in the new year and I'm trying to work out prices etc for a business plan. I dont expect to hit the vat thresholds in year one, so Im not going to register for vat, but just say 11mths into the business and things take off and I will reach the threshold and then register for vat will I be liable for vat on on the previous 10mths or just from month 11 onwards.
As stated its unlikely but I want to make sure.
Regards
Fi