What are the disadvantages of voluntary VAT registration? |
- If you supply the public or non-VAT registered businesses then they cannot reclaim the VAT charged.
- If your VAT registration is delayed and backdated, you have to make sure you cover your VAT liability from the date you applied for registration.
- You have to keep VAT records, fill in regular VAT returns with details of your sales and purchases. However, StMatthew eAccounting offers this service (VAT filing).
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Last Updated ( Friday, 28 November 2008 )
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