We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA
Threshold to see a £5,000 increase from 1 April
Secondary legislation will amend the VAT Act 1994 to increase the VAT registration and deregistration thresholds.
From 1 April 2024 the taxable turnover threshold which determines whether a person must be registered for VAT will be increased from £85,000 to £90,000.
The taxable turnover threshold which determines whether a person may apply for deregistration will be increased from £83,000 to £88,000.
