Jump to content

Log in or register to remove this advert

VAT Registered


Conorjm10
 Share

Recommended Posts

Log in or register to remove this advert

This!
 
I can never understand the mentality of people who desperately try and stay under the vat threshold in the mistaken notion that it means they will lose work if they register.
 
My mindset from the start was that if my business ambition was never to cross the threshold then why even be in business.

I’m a wood cutter not a tax collector.
I can never understand the mentality of people

  • Like 2
Link to comment
Share on other sites

2 hours ago, Retired Climber said:

Not being VAT registered just tells the world you don't get much work.

Really,,, i would like to know how that works ? 

A good accountant and a business addvisor are worth there weight in gold. 

some people just need steering in the right direction but wont pay for the right addvise from the right person !!

  • Like 1
Link to comment
Share on other sites

There’s nothing wrong with running older gear and staying below the threshold. I ran a TW and an old transit for years like that.


But there’s a lack of progress that wears you down after a while, you cannot (easily) get a new chipper or truck, it is no fun, nothing to look forward to, just year after year of the same sort of jobs.

  • Like 4
Link to comment
Share on other sites

15 minutes ago, spuddog0507 said:

Really,,, i would like to know how that works ? 

A good accountant and a business addvisor are worth there weight in gold. 

some people just need steering in the right direction but wont pay for the right addvise from the right person !!

There's nothing whatsoever a good accountant can do to stop you from having to charge VAT other than to tell you not to earn more than 85k in a 12 month period.

Link to comment
Share on other sites

There’s nothing wrong with running older gear and staying below the threshold. I ran a TW and an old transit for years like that.

But there’s a lack of progress that wears you down after a while, you cannot (easily) get a new chipper or truck, it is no fun, nothing to look forward to, just year after year of the same sort of jobs.

Not you too Mick.
I run 3 businesses,
tree services, Saw milling and timber merchants.
If I get a turnover approaching vat, I’ll just set up each business as a ltd.
Each stays under the vat threshold.
The savings I’d make on new kit are a few hundred or thousand a year. Compared with tens of thousands I’d have to charge in vat.

Also I will point out, if all you want, is to earn more and more money, there are far safer, easier and quicker ways.
As you well know.
[emoji106]
Link to comment
Share on other sites

4 minutes ago, Rough Hewn said:


Not you too Mick.
I run 3 businesses,
tree services, Saw milling and timber merchants.
If I get a turnover approaching vat, I’ll just set up each business as a ltd.
Each stays under the vat threshold.
The savings I’d make on new kit are a few hundred or thousand a year. Compared with tens of thousands I’d have to charge in vat.

Also I will point out, if all you want, is to earn more and more money, there are far safer, easier and quicker ways.
As you well know.
emoji106.png

Haha, the very definition of artificial separation. 

  • Like 6
  • Thanks 1
  • Haha 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


  •  

  • Featured Adverts

About

Arbtalk.co.uk is a hub for the arboriculture industry in the UK.  
If you're just starting out and you need business, equipment, tech or training support you're in the right place.  If you've done it, made it, got a van load of oily t-shirts and have decided to give something back by sharing your knowledge or wisdom,  then you're welcome too.
If you would like to contribute to making this industry more effective and safe then welcome.
Just like a living tree, it'll always be a work in progress.
Please have a look around, sign up, share and contribute the best you have.

See you inside.

The Arbtalk Team

Follow us

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.