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UK tax expert???

A business crossed the VAT threshold during 2008, although not a massive liability built up as the bulk of the sales are zero rated. In the process at the moment of registering the business but one question. Is it possible to apply for exemption up to a certain point and then apply for registration from this point onwards? from this point there is every chance of an overall reclaim! Anything to be aware of here – how are the VAT penalties for late registration structured if there is in effect no overall liability?

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