Jump to content
Conorjm10

VAT Registered

Recommended Posts

55 minutes ago, Rough Hewn said:


Absolute rubbish.
Did you open your business on day one with 90k turnover?

No I didn't, but I knew it was going to need to be a business rather than a hobby or simply 'self employment' for me only, so registered for VAT from the off. 

 

  • Like 2

Share this post


Link to post
Share on other sites

As I'm sure I've said before....you have to do what is best for your business. I know a contract climber who earns under the threshold but is considering going vat reg as all his work is for vat reg company's. He would get fuel etc and equipment vat back. That would be a good thing.

  • Like 2

Share this post


Link to post
Share on other sites
1 hour ago, Rough Hewn said:


Absolute rubbish.
Did you open your business on day one with 90k turnover?

You don't need 90k to register, you can do it from the start and its best to do that.

  • Like 1

Share this post


Link to post
Share on other sites
1 hour ago, Retired Climber said:

No I didn't, but I knew it was going to need to be a business rather than a hobby or simply 'self employment' for me only, so registered for VAT from the off. 

 

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.

  • Like 1

Share this post


Link to post
Share on other sites
4 minutes ago, Steve Bullman said:

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.

The threshold is there so a self employed bloke with no staff and few overheads can make a living without needing to register. If you want a business, you need to register. 

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

 

As Steve says, it's also a psychological thing. If you are trying to stay under the threshold, you have completely the wrong mindset to make money. 

  • Like 1

Share this post


Link to post
Share on other sites
8 minutes ago, Rough Hewn said:

You think what I do is a hobby?
emoji848.png

Is that question for me? If so, I have no idea what you do, or why you do it. 

You'll notice I also used the term 'self employed', but I suppose it's easier to take offence at the term hobby isn't it. 

Share this post


Link to post
Share on other sites
Is that question for me? If so, I have no idea what you do, or why you do it. 
You'll notice I also used the term 'self employed', but I suppose it's easier to take offence at the term hobby isn't it. 

Scottish cleaning services or vesp?

Share this post


Link to post
Share on other sites
1 hour ago, Rough Hewn said:

You think what I do is a hobby?
emoji848.png

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!

  • Like 1

Share this post


Link to post
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

  • Featured Adverts

  • Tip site reviews

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.