HMRC goes live with VAT Registration Estimator tool
by Tom Herbert, Technology editor – AccountingWEB
HMRC has launched a digital tool designed for small businesses to check the potential implications of VAT registration and experiment with different inputs and outputs.
Launched today, HMRC’s VAT Registration Estimator is a guidance tool designed for small businesses to assess what registering for VAT could mean.
New or established businesses can visit the HMRC webpage, enter their details and find out whether their turnover could require them to register for VAT (and the effect this could have on their profits).
The tool also links to further details about the VAT registration process and provides information for businesses operating below the threshold and considering voluntary registration. However, in a release about the estimator, HMRC emphasised it could not provide bespoke business advice.
Accessible via a gov.uk guidance page rather than the Government Gateway, the estimator will not record the details inputted by businesses or their advisers.
