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  • Tax

    Proposal to Reduce VAT Registration Limit

    The Office for Tax Simplification (OTS) has proposed to Government that the VAT Registration Threshold should be reduced.  The OTS say that the average registration threshold within the EU is £20,000 which is a lot lower than our current £84,000.

    Whilst this won't affect BTL Landlords (as residential letting is exempt) it could impact on those looking to provide Furnished Holiday Lets and Serviced Accommodation both of which are standard rated for VAT.  It could also impact on those starting out in providing property management as well as property sourcing.  It would also affect small builders and those providing property maintenance services.

    To find out more see:

     https://www.gov.uk/government/publications/ots-report-on-routes-to-simplification-for-vat-is-published

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    Hi Nigel,

    This is already in discussion here:

    VAT horror possible - lowering of threshold? 

    ​You may like to share your thoughts on that thread?

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