Newsletter issue - November 2023
There are two ways to register for VAT:
- The VAT Registration Service (VRS) - online, or
- The VAT1 form - paper by post
This is set to change in November 2023 when only the online VRS route will be available. HMRC said in their September Agent Update that already 95% of registrations are done online. Closing the paper registration route will increase this percentage and increase the use of its digital services.
The digital exemption route will still apply and there are some businesses that will still be required to use the VAT1 form and provide additional information.
Accurate VAT registration is reliant on having all the accurate information to hand. The Agent Update also says 'input them correctly'! Please help yourself, HMRC and your accountant by having this accurate information.