VAT or not VAT? That is the question

IS now the right time to register for VAT? With an expected increase in the standard rate of VAT from 21% to 23%, it is now more important than ever to look at whether you should register for VAT.

In short, the answer depends on your individual situation.

To give a general rule of thumb, beef farmers and tillage farmers are generally better off registered for VAT. In contrast, a dairy farmer is usually better off remaining unregistered.