Btec Business Level 3 Unit 9 P61

Satisfactory Essays
You have to notify the customs and excise if your business makes an income of £61,000 in the year of trading and you have to remember that you could risk a fine through this also if you don’t. The limits of registration change regularly so you should make sure to check with them on a regular basis, and you should check your turnover on a monthly basis because that can change from one month to the next. They will also ask for proof of your turnover from the previous months so that they can check that you register on time, you could also register on a voluntary basis because you will benefit. Also you could recover any VAT charged to your business; if you are selling goods to individual people then you could leave the registration until a later
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