lindajames - 5:01 pm on Jul 7, 2003 (gmt 0)

I currently have a business set up in the U.K. I've been trading for two years now and my company offers website membership to worldwide customers. I was told by my accountant that I didnt need to worry about VAT or register for VAT until i've made something like £52,000 (which i have not yet made, ive still got ages to go before i get there)

But I am very confused about the overall VAT issue and how it works as i've never been involved in VAT before. I've heared about the new EU VAT Directive that takes affect from 1st July 2003, but does this affect me? does the £52,000 threshold still apply? if so, i guess i have nothing to worry about yet. However, I would like to prepare for when the time comes so if anyone can please give me some advise on exactly what is required I would really appreciate it.

Many Thanx

Cheers
Linda James