Hitting the VAT threshold where you must charge VAT on sales and reclaim VAT on purchases is a point in time that strikes fear and dread into a lot of business owners (particularly those serving the public)…. But, it should be something to celebrate (at least momentarily). First let me give you a bit of background. Businesses in the UK are required to register for VAT purposes once they reach a TURNOVER of £85,000. Some industries can hit the threshold…
