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VAtable or not?

I have a hobby that involves collecting a small charge for participants? My collections is now close to VAT threshold of £79k and i wonder whether i should register for VAT?

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    Without the full details of your hobby it would be difficult to tell is that is VATable or not. However i would point to you the considerations you need to make as detailed by the Business Brief 2/05 of the VAT legislation.

    To determine whether your activity is VAtable or not (whether its a hobby or a business activity), you need to perform the following tests:

    is the activity:
    1.a serious undertaking eanest pursued
    2. the continutity of the activity
    3. measurement – can you put value on it- say quarterly or annual?
    4. is this a taxable supply
    5. this is done using business principles
    6. is there a profit motive

    Hope this will assist you in making the decision. If not please send us more details.


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