Turnover is your total business income from sales or services before any costs are deducted. It’s also known as gross revenue.

Key points:

  • It’s not the same as profit—turnover is before expenses.
  • It usually excludes VAT (if you’re registered for VAT).
  • It only includes trading income (not investment returns or asset sales).

Why it matters:

  • Used to assess if you must register for VAT (e.g. over €85,000 for goods or €42,500 for services).
  • A key figure in your tax return and financial reporting.
  • A good indicator of how your business is performing.

Example:
You run a salon and earn €60,000 in customer payments. That’s your turnover.
If your costs (rent, supplies, etc.) are €35,000, your profit is €25,000.