Advice for newly V.A.T registered company

[skyhuck]

Just googleing any companies name will soon tell you wether the are VAT reg or not.

[Steve Bullman]

not if they're a sole trader

[Hodge]

The vat reg debate is largely academic. If you register turnover over 79k then you have no choice. The benefits are whats already been mentioned like 20% cheaper fuel, equipment, vehicles, etc against the odd job you might lose because a punter doesn't like paying tax. Best option get into commercial work, vat then isn't an issue as 99% of companies will already be vat'd anyway.

 

 

Really like this answer, Ha,Ha. You make it sound so easy, commercial work isn't that easy to get where I live, loosing the odd customer, well I think its more than the odd customer from the research I have been doing. In this industry a large part of turnover is wages and the subbys I use ain't vat reg. Its typical of this country to penalise the hard working honest man and spoon feed the scum. It really does not give encouragement to be honest.

[woodyjjw]

Really like this answer, Ha,Ha. You make it sound so easy, commercial work isn't that easy to get where I live, loosing the odd customer, well I think its more than the odd customer from the research I have been doing. In this industry a large part of turnover is wages and the subbys I use ain't vat reg. Its typical of this country to penalise the hard working honest man and spoon feed the scum. It really does not give encouragement to be honest.

 

Very hard where I am as I am on an island. Lost a fair amount of work from being VAT registered this year. But still got enough work on. The plus side is I have been looked at more seriously now as a bigger company!!

[Ian C]

Hodge is right to a degree, vat is good for me, domestic hate it but so what....thats life.

 

I think the vat threshold should be dropped to 20k then every legit business would have to be reg, level playing field and domestic clients would know where they stand and also know if a tradesman wasnt vat there might be something not quite right!

 

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[Hodge]

I agree about the lower threshold Ian, it would generate more revenue for the country and would make the small business man be able to claim 20% back. Everybody wins.

[Ian C]

I agree about the lower threshold Ian, it would generate more revenue for the country and would make the small business man be able to claim 20% back. Everybody wins.

 

Yep.

 

Lower the vat rate to 10% to help domestic customers but make all business with a turnover of 20k a nd up vat reg, everyone wins.

 

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[Hodge]

Yep.

 

Lower the vat rate to 10% to help domestic customers but make all business with a turnover of 20k a nd up vat reg, everyone wins.

 

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Totally! We agree on something for once Ian:-) Ha,Ha.

[Ian C]

Totally! We agree on something for once Ian:-) Ha,Ha.

 

Lol mate had to happen at some point.

 

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