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VAT Registered???

What are the differences between being VAT registered and not?

What more do I get to be registered?
Is there a certain amount or turnover I need before being VAT registered?

Thanks.

One of the advantages of being registered is the ability to reclaim VAT on your own purchases (e.g. materials) for your business. Disadvantage is arguably that you have to submit VAT returns and you will have to apply VAT to your invoices which make your more expensive than others in case your customers can claim back this VAT.

Be aware that if your turn-over exceed a certain annual amount you MUST register for VAT (I believe 拢60k).

Registration is very simple.

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