The current VAT registration turnover threshold is £85,000 in any 12-month period, or sooner. There was much speculation that this amount may be reduced in the most recent budget, but this didn’t happen.
If your turnover falls below £83,000 in any 12-month period, then you can equally apply to deregister for VAT. This may have benefits with the Making Tax Digital requirements that will be brought in for VAT registered businesses from April 2019 – see our post from 9th December 2017.
The Chancellor also gave assurances that the current VAT thresholds would not change for two years from 1 April 2018.