vat return

[Steve Bullman]

good point.....im adjusting my firewood prices accordingly, i shant be quoting it plus vat

[firewoodman]

you are right there rupe

 

as long as it shows on the invoice or reciept then it is "legal" for vat

 

fuel stations dont show £1.20 +vat on the signs... its just shown on the reciept.

 

i just know i would pay more vat to mr darling than he will give me back and wont pay me for the accounting i will have to do or colleting of money.

 

for now, and the bleak financial future, small and simple is my direction

[Lee Winger]

could someone please tell me, how long after filing a vat return can i expect my vat refund?

 

wife says about 4 weeks, why not give them a ring, the money will be paid straight into your bank account

[firewoodman]

good point.....im adjusting my firewood prices accordingly, i shant be quoting it plus vat

 

what %age will you charge that at and will it include delivery?

 

discussion i went through was...firewood is a fuel so 5%, but if charged for delivery, then thats a service so had to charge 17.5%.

 

but you buy in your wood so do you pay 17.5% for that? if so how will that transform to the customer??

[Steve Bullman]

 

i just know i would pay more vat to mr darling than he will give me back and wont pay me for the accounting i will have to do or colleting of money.

 

 

i dunno mate, i think you're kinda missing the point.....at the moment you are paying vat that you could get away without paying......the vat income that you would have to pay if you were registered really isnt even yours in the first place.

 

now i havent done the maths yet, but about this time last year i checked on an average month and i was paying out £300 in vat...thats money down the drain IMO

[Steve Bullman]

what %age will you charge that at and will it include delivery?

 

discussion i went through was...firewood is a fuel so 5%, but if charged for delivery, then thats a service so had to charge 17.5%.

 

but you buy in your wood so do you pay 17.5% for that? if so how will that transform to the customer??

 

the 17.5% wont transform to the customer...its a totally irrelevant figure as i will be getting it back anyway.

 

yes i shall charge 5% on wood, i dont charge for delivery..at least not advertised anyway

[Rupe]

i dunno mate, i think you're kinda missing the point.....at the moment you are paying vat that you could get away without paying......the vat income that you would have to pay if you were registered really isnt even yours in the first place.

 

now i havent done the maths yet, but about this time last year i checked on an average month and i was paying out £300 in vat...thats money down the drain IMO

 

Some how it doesn't seem to work like that. Thats why I say lets discuss it in two years. I wouldn't be vat registered by choice.

 

Firewoodman is right when he said

"i just know i would pay more vat to mr darling than he will give me back and wont pay me for the accounting i will have to do or colleting of money."

 

It true, you collect 1000 but spend 200 so you give away 800 (which wasn't yours I agree) but you get nothing for doing so. I get a bill from my bookeeper of about 100 every quarter so its not worth it.

 

If you are doing all the paperwork yourself then good for you. I wouldn't/couldn't

[Steve Bullman]

rupe, all my bookwork is done on quickbooks...nothing i do from now on will be any different, everytime i enter an invoice or receipt it will register the vat, and each quarter i simply click on "make vat return" job done.

[Rupe]

Another way of looking at it is this

 

you charge 50 for a load of wood and 5% of that is vat but its hidden, the customer doesn't know and so thats good.

 

At the end of the quarter the proffits in our business are low so you will wish that 50 was yours but then you get a vat bill!

 

What I charge including vat is what I should be getting without vat but its not so the govn get what should be my profits.

 

The customer pays 500 without questioning vat or no vat. Thats great but I want them to pay me 500 not 425.53

[firewoodman]

i dunno mate, i think you're kinda missing the point.....at the moment you are paying vat that you could get away without paying......the vat income that you would have to pay if you were registered really isnt even yours in the first place.

 

now i havent done the maths yet, but about this time last year i checked on an average month and i was paying out £300 in vat...thats money down the drain IMO

 

my biggest expense is diesel, and i dont buy that much.

 

i'm nowhere near the vat threshold and quite happy.

 

my accountant can get me more money back off my newly purchased machinery over 3 years than the vat i paid. and yes i agree that would be mine anyway

 

if i did not buy machinery it was worked out that i would have to pay more vat back than it was actually worth me claiming.

 

i dont have a huge expenses list and am a small company and the vat i pay is what i have to pay. happy to pay it as i am a proffesional company and not a pikey in it for the fast buck.

 

if i was your size then maybe there are benefits but where i live there are so many benefit cheats and people on the dole that don't need to be, i really do object to paying tax for a crap service.

 

imo vat looks like hastle.

 

how many of you vat registered have had an inspection and did you like/enjoy it???