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It’s important to note that this is on a rolling 12 months basis (ie, the last 12 months from any given point), not based on turnover in a calendar year.If you haven’t exceeded the threshold for compulsory registration you can still register voluntarily if it makes sense for you to do so.
The lede on the piece, “Building a sustainable community can’t be just about paying for buses full of young people in hopes they will make Jewish babies.” The piece was widely circulated and garnered significant commentary, both on- and offline; multiple communal professionals weighed in.
That evening, the author advised us she was let go from federation because of the article.
Further conversation was spurred including in the “hallways” at the Israeli Presidential Conference, in process at the time.
We must ask, why is it that our organizations cannot accept criticism?
This additional income isn’t yours – you’re collecting it on behalf of HMRC (HM Revenue & Customs).
Every 3 months you need to pay over the VAT you’ve collected to HMRC. When you buy items from another VAT registered business – they have to charge you VAT. So, lets assume that in a 3 month period you collect £1,000 in VAT from your customers.
In the same period you also buy something from a supplier and you’re charged £200 + VAT (Total: £240).
Why is it that our largest organizations behave towards anyone – employees, lay leaders, the media – that say anything critical of any initiative or policy? Are their missions so questionable that some behave like the worst dictatorships in history?
A common question amongst small business owners is whether or not they should register for VAT and what is the Vat Threshold?
Hopefully this article will help you make up your mind about Vat registration and the benefits of this.
If your turnover (total sales) in the previous 12 months exceeds the compulsory registration threshold (currently £82,000), then yes – you must register. Accounting software like ours will keep an eye on this for you and warn you if you approach the threshold.