If your turnover from taxable business activities is below the registration threshold, you can apply to register for VAT voluntarily.

The registration thresholds are as follows:

If your turnover falls below the registration threshold and you deregister, the option to tax does not cease because you have deregistered.

If you run a business you'll need to know about VAT rates and registration thresholds.

If the beneficial owner is making taxable supplies above the registration threshold they will have to register for VAT.

The joint owners may also request voluntary registration where the value of taxable supplies is below the registration threshold.

The current registration threshold for taxable supplies is £73,000.

If the total exceeds the registration threshold (currently £73,000), you'll have to be registered for VAT from the day of the transfer.

Unlike VAT, there is no registration threshold for landfill tax.

If the total goes over the registration threshold on the day of the takeover (currently £73,000), you'll have to register.