VAT Registered

[Rough Hewn]

No, you are the self employed bloke with no staff and few overheads, as both Steve and I alluded to.
 
I even went so far as to say that 85k/year with few overheads was respectable!

I’ve got overheads🤣🤣🤣

[Rough Hewn]

Just because I don't agree with you, I must be trolling? 

You just said anyone who isn’t vat registered is a hobby.
You’re not a troll, you’re just ignorant.
That’s all.
[emoji106]

[Rough Hewn]

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
…

[spuddog0507]

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 !!

[Ian C]

3 minutes ago, Rough Hewn said:

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

Hit the nail on the head right there!

[Mick Dempsey]

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.

[doobin]

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.

[spuddog0507]

1 minute ago, doobin said:

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.

Quite aware of that, but your only quoting the obvious ?? and half of what i said,  

[Rough Hewn]

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]

[Retired Climber]

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.

Haha, the very definition of artificial separation.