In this video, I break down VAT registration: when it’s required, why you might register voluntarily, and how it affects your pricing. Learn the pros and cons, plus tips to make VAT easier to manage. Perfect for small business owners figuring out if VAT is right for them!
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TIMESTAMPS
0:00 What you can learn about VAT registration
0:19 What exactly is business VAT?
0:52 VAT Registration threshold
1:18 What is Compulsory Registration?
2:02 When you should consider voluntary registration
2:13 Why would you consider voluntary registration
2:55 Voluntary registration benefits
3:07 How does VAT registration affect your pricing?
4:24 Benefits: Input Tax Recovery
4:45 Benefits: Business Credibility
4:57 Benefits: Avoid Penalties
5:13 Reclaim historical VAT
5:34 Drawbacks: Increased prices
5:47 Drawbacks: Admin burden
5:58 Drawbacks: Cash flow impact
6:11 How to Register for VAT
6:53 What to expect after registration
7:28 VAT Tips: Organisation
7:53 VAT Tips: Deadlines
8:03 VAT Tips: Cashflow
8:14 VAT Tips: Communication & consulting professionals
8:30 VAT Tips: Resources
8:40 So, should YOU register for VAT?
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[All opinions are my own. All information and advice given is correct at time of filming]