If you are a new business owner, or if you are running a trading company then you may be unaware of the potential penalties that come with failing to register for VAT. Keeping track of VAT registered customers can seem like an overwhelming task, but it isn't as difficult as it seems. You simply need to use a few simple tricks and tools in order to keep on top of your sales and purchases so that when tax time comes around, you aren't surprised by a hefty bill.