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What the VAT threshold means for your business If you run a business or work as a freelancer in the UK, VAT registration is one of those milestones that can sneak up on you. As your turnover grows, so does the risk of missing a deadline you didn't know applied to you. Understanding the threshold, and what happens as you approach it, is the first step to staying compliant and avoiding penalties. For the 2026/27 tax year, the VAT registration threshold remains £90,000. This mea

Why residency status matters For business owners, expats, and freelancers considering a move to Guernsey or Jersey, tax residency is one of the most important, and most misunderstood, aspects of relocating. Your residency status determines how much tax you pay, and on what income, so getting a clear picture before you move can save a lot of confusion (and money) down the line. How Guernsey defines residency Guernsey uses a day-count system to determine residency status, and t

Registering with HMRC Starting out as a freelancer or sole trader in the UK comes with a learning curve, and tax is usually top of the list of things new business owners feel unsure about. The good news is that once you understand the basic obligations, staying compliant becomes far more manageable. Your first step is registering with HMRC. You need to do this by 5 October following the end of the tax year in which you started freelancing. For example, if you started freelanc