!*Bang*! :)
Actually the UK is quite lucky. Your business can earn a fair bit before you need to register for VAT. It depends on what your biz is too, if you have to buy in products or services then registering for VAT is an absolute necessity as you can buy without paying VAT. For something like writing small scale software or media, there is little outgoings so may not be worth it.
However it is a LOT of extra paperwork. Plus 17.5 isnt too bad, its just a little above average for EU.
Consider yourselves lucky, here in sweden its 25% vat and everyone has to be registered if supplying a product or service for money, even if its just a hobby!
Actually the UK is quite lucky. Your business can earn a fair bit before you need to register for VAT. It depends on what your biz is too, if you have to buy in products or services then registering for VAT is an absolute necessity as you can buy without paying VAT. For something like writing small scale software or media, there is little outgoings so may not be worth it.
However it is a LOT of extra paperwork. Plus 17.5 isnt too bad, its just a little above average for EU.
Consider yourselves lucky, here in sweden its 25% vat and everyone has to be registered if supplying a product or service for money, even if its just a hobby!