In short
Once annual turnover exceeds 12,000 BCU, a business must move to the general regime — VAT and corporate income tax. From 2026, first-time switchers are exempt from CIT for one tax period and from penalties for late VAT registration if they register within a year. Financify handles the transition correctly.
Why it happens
- Your business grew fast
- Nobody was tracking the threshold
What happens if you do nothing
- Registering late as a VAT payer
- Losing the transition reliefs
What we do
- 1
Measure
We pinpoint the date you crossed the line.
- 2
Register
We register you as a VAT payer.
- 3
Relief
We apply the transition reliefs.