Card machine for a sole trader with no VAT? UK
Card machine for a sole trader with no VAT? Watch the full video above, or read the complete timestamped transcript below.
Transcript
[0:00] Card machine for a sole trader with no VAT? A 60-second plain answer.
[0:07] Yes. You do not need a VAT number to accept cards. VAT registration is only mandatory above 90,000 pounds turnover. Card payments and VAT are completely separate questions.
[0:14] What carries the application is your UTR, your Unique Taxpayer Reference from HMRC self-assessment. The acquirer runs KYC on you the individual, not on a company.
[0:22] You need four things. Photo ID. Proof of address under 90 days old. Your UTR. And a bank account in the trading name.
[0:29] If you trade under your own name, a personal account is fine for SumUp, Zettle and Square. A trading name like Sarah's Coffee needs a business account.
[0:37] Full UK card machine comparison on merchanthq.co.uk.
MerchantHQ is an independent UK comparison and introducer service, not a payment provider.