Roland Kippax Terrance22
My wife and i run two separate business one with turnover of £40 and another with a turnover of £90ki. We are not registered for VAT yet.
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VAT-adviser
VAT registration: (i) compulsory – historic or futuristic or (ii) Voluntary – existing or intending trader.

Intending trader: HMRC to be satisfied & that a bona fide business. No date of trader value of supplies required just docs to support intention and these include: contracts, letterheads, planning permission, patents, option to tax on buildings/land etc,.[ Rompleman]

Once registered - allowed input tax recovery; more recovery through CGS, future supplies VAT on it; pre-registration and pre-incorporation recoverable ( 6m services/4 yrs goods) used for business; deminis benefits

As a repayment taxpayer, apply to move onto monthly VAT returns; once taxable supplies, move to Quarterly.

If the activity proves abortive, de-register. If intention not going ahead due outside control, should retain the VAT validly recovered; otherwise clawback of input VAT. Deemed exit sale on assets or dividend in specie. VAT waived on deemed sale if <£1,000.

Identify registration period - penalties, disclosures
Exceptions from registration eg temporary threshold excess
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