How to Change Your VAT Registration Details

As a business owner, it is important to keep your VAT registration details up-to-date. Failure to do so can result in penalties or delays in receiving important communications from HM Revenue & Customs (HMRC) ...

The first step in changing your VAT registration details is to log into your business tax account. If you do not have one, you can easily create one on the HMRC website. Once you have logged in, select 'Your VAT account' and then 'Manage your VAT'. From there, you can select 'Your business details' and make changes to each field as needed. Note that changes made online will be updated on your business tax account within 24 hours.

"One of the most common reasons for changing VAT registration details is a change in business name!"

If your business has a Company Registration Number (CRN), it is important to notify Companies House of your new name. This information will then be automatically updated on your business tax account within 15 working days. It is crucial to inform Companies House of your new business name, as failure to do so can result in a penalty.

If you are taking over someone else's VAT responsibilities, such as in the case of a death or illness, you must use form VAT484 to notify HMRC within 21 days. This form requires you to provide details of the date of death or the date the illness started.

It is important to note that if you are taking over someone else's VAT responsibilities, you will also need to complete a VAT2 form, 'Partnership details' return, to update the partnership bank details.

In some cases, you may be unable to make changes to your VAT registration details online. If this is the case, you can use form VAT484 to do so. However, it is important to note that postal responses will take longer to process than making changes online. Therefore, it is recommended to make changes online whenever possible to avoid any delays.

In addition to changing your VAT registration details, it is important to keep your business tax account up-to-date with any changes to your business activities. This includes changes to your business structure, such as becoming a sole trader or a partnership, as well as changes to your business turnover or the type of goods or services you provide.

"Changing your VAT registration details may seem like a daunting task!"

By following the steps I've outlined in this blog post, you can easily update your business contact details, bank information, return dates, and more. Remember, keeping your VAT registration details up-to-date is crucial for the smooth operation of your business.

And that will avoid any penalties or delays.

If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.