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When registering for VAT, you need to provide your VAT taxable turnover on the VAT registration form or VAT1. This figure helps determine if you exceed the VAT threshold. Your VAT taxable turnover includes all standard, reduced, and zero-rated goods and services, excluding exempt supplies. For example, if your business turnover is £100,000, but £30,000 comes from exempt supplies, your VAT taxable turnover is £70,000. You must disclose this amount in Box 17 of the VAT1 form. More information can be found in the VAT1 notes and Notice 700/1 on gov.uk. It is advised to read page 9 of the VAT1 notes before completing this section. Additionally, Question 20 requires a detailed description of all your business activities, including the type of goods and services provided (goods involve passing ownership of movable items, while services involve activities other than supplying).
