VATREG02300 - Basic principles of registration: meaning of taxable turnover

Taxable turnover is the total value of taxable supplies made by a person in the course or furtherance of business, excluding VAT (VAT Act 1994, section 19).

This includes:

    • zero-rated goods
    • reduced-rated goods
    • standard-rated goods
    • goods you hired or loaned to customers
    • business goods used for personal reasons
    • goods you bartered, part-exchanged or gave as gifts
    • services you received from businesses in other countries that you had to 바카라 사이트˜reverse charge바카라 사이트™Â 
    • goods and services which are subject to the 바카라 사이트˜domestic reverse charge바카라 사이트™
    • building work over £100,000 바카라 사이트¯your business did for itself

Subject to the following subsections, the value of a trader바카라 사이트™s taxable turnover governs both their liability to be registered and their eligibility to seek cancellation of registration.