The wife has a SME (beauty salon) and we've been on about whether or not to go VAT registered. At the moment her turnover is not exceeding £10k/annum so she's not paying any tax, but that's likely to increase as she gets more and more clients. She's doing really well. I am aware of the £81k/year threshold but would there be any point in voluntarily VAT registration? How would it work in practice, would she be able to claim all her VAT back on purchases such as nail varnish, fake eyelashes and tools etc.? And would she potentially be presented with a quarterly/annual bill? Keen to get your view on the subject!