Jump to content

Log in or register to remove this advert

Recommended Posts

Log in or register to remove this advert

  • Replies 98
  • Created
  • Last Reply

Top Posters In This Topic

Posted

Yeah I agree john.

 

I would guess if you pay vat monthly on kit like I do you wont be a able to claim back.

 

You flat rate or normal?

Posted
I thought the money you lads earn a range Rover sport would be straight out the back pocket :biggrin:

 

It is just have chippers on tick lol

Posted
I think I would get more pleasure from a chipper certainly it would earn more money and break down less. :001_smile:

 

Lol deffo be more reliable.

Posted
No.

 

On the "Fate rate scheme" you charge 20%, but pay 11% of turnover to the VAT man and only claim back VAT on purchases over £2K.

 

So its far less complicated, simply calculate 11% of turnover each quarter and pay that, plus there is little scope for you making an error and claiming for something you should not have and ending up owing a lump of VAT.

 

My accountant looked at it and reckoned it saved me around £800 per year.

 

I think you pay less for the first year 9% or 10%

 

I'm claiming back 10.5% Huck. You are giving HMRC 0.5% too much! :eek:

Posted

Unfortunately the flat rate scheme only applies to small businesses with a turnover less than 150K. That will suit you for a newly VAT registered business but may not last too long. Depends how you grow. Sounds like it's worth considering though.

Posted

I'm thinking of registering for Vat even tough I'm not at the thresh hold. Having just purchased a digger, tractor and post knocker in the last 3 months it does make me cringe when iv paid over 6k on VAT just on those 3 items, probably a case of shutting the stable door after the horse has bolted now!

One way iv thought is to put my prices up at least 10%. Basically going halves on the VAT I have had to pay on machinery to do there jobs without charging VAT!

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

  •  

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.