VAT Registered

[John Shutler]

I was terrified of going VAT registered when it was happening but it’s one of the best things I ever did for my buisness. 

[Joe Newton]

33 minutes ago, Retired Climber said:

How interactions occur on the internet is a fascinating subject, and one we often use to test theories. 

 

 

 

In layman's terms, what I do is part experimental psychology and part marketing consultancy. Basically, my job is to understand how people think, what motivates them, how they make decisions and how we can influence these processes. 

 

This thread is probably on enough of a tangent, but if anyone is interested in why that customer who seemed really keen never got back to you, how to tell if someone is going to accept your quotation, or even why some forum members are desperate to be seen as the one to call out what they suspect is BS, we should have a thread on the subject. 

 

 

 

I could also explain why scotspine is desperate for us all to wake up and see the massive imaginary conspiracy theory around Covid, but that probably needs its own thread. 

Yes please. 

[maybelateron]

1 hour ago, John Shutler said:

I was terrified of going VAT registered when it was happening but it’s one of the best things I ever did for my buisness. 

Yep, it's pretty straightforward if you put all your invoices onto the computer rather than the old days of throwing them into a drawer. I have a couple of non VAT registered friends who do just that, and then run around madly on 30th January trying to sort out a tax return!

[Hodge]

I was terrified of going VAT registered when it was happening but it’s one of the best things I ever did for my buisness. 

I was the same but it's such a weight off not having to keep watching my rolling 12 and worrying about doing that job. So far it's working ok.

[John Shutler]

ive been registered 8 years or so now. the back VAT i got from hmrc gave me a enough for a 50% deposit on a new pickup. no idea how much vat ive claimed back over the years must be getting on for 200k. it’s a huge encouragement to invest in equipment 

[Rough Hewn]

I was terrified of going VAT registered when it was happening but it’s one of the best things I ever did for my buisness. 

How did you find the change over period,
Where you have to charge 20% but it’s not vat yet?

[John Shutler]

1 minute ago, Rough Hewn said:

How did you find the change over period,
Where you have to charge 20% but it’s not vat yet?

no different 

i don’t even think about the VAT these days just work out what i want for the job and add the VAT.

One of the biggest things things i found was going over the £830 plus vat for a 2 man team as the total inc VAT is £996 which keeps it just below 1k which i thought was important physiologically for clients but when i put it upto £890 plus vat i didn’t see a down turn in accepting quotes 

[Rough Hewn]

no different 
i don’t even think about the VAT these days just work out what i want for the job and add the VAT.
One of the biggest things things i found was going over the £830 plus vat for a 2 man team as the total inc VAT is £996 which keeps it just below 1k which i thought was important physiologically for clients but when i put it upto £890 plus vat i didn’t see a down turn in accepting quotes 

That’s very interesting.
Looks like I need to find a decent accountant.

[Stephen Blair]

At first I just included the vat on all my regular customers prices so that's me less £16.67 every £100 on those jobs.   It was only the odd job here and there so didn't make much difference.  

  New customers I added it on.  Comercial didn't matter.

  

  

 

[Rich Rule]

I prefer the Norwegian model.  
 

A company/SE individual needs to register for MVA (VAT) once they hit 50000 NOK (4500 GBP Approx).

 

That allows the odd job on the side, a lot of people have second jobs, to be done without VAT.  BUT, it means anyone who is basically using SE status as a main means of income or even charging more than 4.5k, needs to be registered for VAT.