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vAT exemption to subject to VAT: how to switch just before 25,000?

AV
17/05/2024
Question

Hi,

I am currently VAT exempted and estimate that I will exceed 25,000 in September. Liantis informed me that there are only two moments when I can easily switch, which would be on 1 July. According to them, I can also switch just before reaching 25,000, but that is less straightforward. Is that correct? I would prefer to wait until around 24,000, as I work partly with private persons and a price increase is not ideal. So I want to remain exempted from VAT for as long as possible (and not charge vAT on the amount for private persons) this year.

Gr
Anke

It is indeed easy to switch at the end of a quarter because you are then starting a new quarter and all invoices from then on will include vAT. You can edit from exemption to non-exemption on any date (but not vice versa!), but that requires more work in the accounts because you need to know exactly which invoices are from before and which are from after your exemption.

// I am not an expert and am only speaking from my own experience! :)

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