It pays to be punctual with VAT Registrations. Relationships with customers and exposure to fines are all reduced by staying complaint.
But, registration timing rules vary between countries. Thresholds vary for non-resident businesses in the EU. Outside of the EU, there is no consistency in terms of thresholds. All of this makes it easy for companies operating in multiple nations to slip up on registrations.
If you’re late to the party in letting tax authorities know you’re liable for registration, there will be implications. These could include fines and penalties, in addition to interest levied for late registration.
As well as this, how VAT is accounted for in the period in question has to be determined, alongside the correct start date for accounting. Crucially, rules vary significantly between tax authorities. In short, retrospective VAT registrations are challenging and require expert input.
If you find yourself in the position of needing to account for historic liabilities, help is on hand. We have years of experience negotiating retrospective registrations, in addition to reducing fines and penalties. So we’ll ensure you are correctly registered in all the countries you operate in.
We don’t believe in making the same mistakes twice. Our consultant-led service will give you the tools and understanding to make retrospective registrations a thing of the past while making your future more compliant.