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Mar 19, 2024 4:38 PM UTC
Question

I run a Limited Company and operate as a private hire taxi for people with disabilities (my car has been adapted to take wheelchairs). Should I be registered for VAT?

The Ltd Company does not exceed the £85000 threshold but I do offer services through the UK

1 reply

Mar 19, 2024 6:27 PM UTC

Thanks for posting here in the Community space, Martin. Let me give you insights regarding the VAT registration in QuickBooks Online (QBO).

 

If a business has made sales exceeding £85,000 in the past 12 months or is expected to make sales over £85,000 in the next 30 days, it must register for VAT. However, since you are not exceeding this threshold, you don't need to register for VAT. Nevertheless, some business owners voluntarily decide to register for VAT because of the benefits it provides. For further guidance on whether you need to register for VAT, contacting HMRC is recommended.

 

On the other hand, you may use these articles as a guide to handle VAT inside QBO:

 

 

Let us know if you have further queries with VAT using QBO. The Community is here 24/7. Have a good one!