VAT registered

[kernowstu]

question.... for firewood merchants you buy wood in @ 20% vat

charge firewood out @ 5%vat(domesic customers) surley all go vat reg and earn a extra 15%

sorry to derail a little

but is this how it works

[skyhuck]

question.... for firewood merchants you buy wood in @ 20% vat

charge firewood out @ 5%vat(domesic customers) surley all go vat reg and earn a extra 15%

sorry to derail a little

but is this how it works

 

Yes thats how it works, if you just do fire wood it would be daft not to register.

[Ian C]

got our accountant coming on thursday to discuss this very issue.

 

done a few large jobs this winter and are VERY near the threshold, also nearly lost a £8500 job coz i had to include the VAT i pay on materials in my price

 

talking to few successful business men i know, the general feeling is i should go LTD

 

dread to think what adding vat will do to the domestic side

 

Adding VAT will dent the domestic side deffo, were all the same really, we all use garages and EXPECT to pay VAT but come to tradesmen we all try and get round it. strange world.

[skyhuck]

Adding VAT will dent the domestic side deffo, were all the same really, we all use garages and EXPECT to pay VAT but come to tradesmen we all try and get round it. strange world.

 

Not really, if there were none VAT registered fuel stations, that sold fuel without VAT, people would be cueing round the block to go there.