How do you guys price VAT into your Firewood?

[hippytyre]

You have to be vat registered if your turnover is over the vat threshold. I think it's 73k this year.

[skyhuck]

So do you have to be VAT registered to be selling firewood

 

No.

 

But if you are registered you have to pay it, so you'd be a fool not to charge it.

[skyhuck]

You have to be vat registered if your turnover is over the vat threshold. I think it's 73k this year.

 

You can register voluntarily if you wish, even if you turnover is lower than the threshold.

 

If you only do fire wood going registered is a bit of a no brainer, when your buying in at 20% and selling at 5% its daft not to register.

[hippytyre]

Personally id just list my prices with vat included. All Joe public cares about is how much it's going to cost them. It would be a good idea to advertise the fact your vat registered though as it could encourage businesses to buy from you as they can claim it back. It makes you look a bit more reputable too.

[hippytyre]

You can register voluntarily if you wish, even if you turnover is lower than the threshold.

 

If you only do fire wood going registered is a bit of a no brainer, when your buying in at 20% and selling at 5% its daft not to register.

 

Yup, it definitely benefits some business types. I've always wondered why taxi drivers don't do it.

[skyhuck]

Yup, it definitely benefits some business types. I've always wondered why taxi drivers don't do it.

 

Because they would need to charge their customers, making them up to 20% more expensive than the none registered. (I know they would save on the fuel, repairs etc, but they would still be dearer than the none registered)

[hippytyre]

That's exactly what I mean. Up here the taxi fees are fixed, they wouldn't be allowed to charge vat on top.

[skyhuck]

That's exactly what I mean. Up here the taxi fees are fixed, they wouldn't be allowed to charge vat on top.

 

So they would be even worse off as they would have to pay the VAT out of their own pocket.

[hippytyre]

I was assuming the fares would be excempt. Anyway, I'm taking this off topic.

[gensetsteve]

If you are vat registered you can also claim vat back on vans processors or anything else you buy that has it on.