VAT Threshold Adjustments

For the 2024/25 tax year, the VAT registration threshold in the UK remains at £85,000. This means that businesses with an annual taxable turnover exceeding this amount must register for VAT with HM Revenue and Customs (HMRC). It’s crucial for businesses to regularly monitor their turnover and maintain accurate records to ensure they comply with VAT regulations. Failing to register when required can result in significant penalties and interest charges. Business owners should also consider the impact of VAT on their pricing strategies and cash flow management.
ref:

• VAT registration threshold – GOV.UK