The Value Added Tax (Increase of Registration Limits) Order, SI 2024/307, increases the VAT registration and deregistration thresholds from 1 April 2024 as follows:
VAT registration threshold: £90,000; and
VAT deregistration threshold: £88,000.
The Order also increases the VAT registration and deregistration thresholds for acquisitions in Northern Ireland from EU member states to £90,000.
The thresholds had been frozen at £85,000 and £83,000 respectively since 1 April 2017, and had previously been expected to remain frozen until 2026 until the Chancellor announced the change at Spring Budget 2024.
The Value Added Tax (Increase of Registration Limits) Order, SI 2024/307, increases the VAT registration and deregistration thresholds from 1 April 2024 as follows:
VAT registration threshold: £90,000; and
VAT deregistration threshold: £88,000.
The Order also increases the VAT registration and deregistration thresholds for acquisitions in Northern Ireland from EU member states to £90,000.
The thresholds had been frozen at £85,000 and £83,000 respectively since 1 April 2017, and had previously been expected to remain frozen until 2026 until the Chancellor announced the change at Spring Budget 2024.
