VAT registered - why do they ask?

[Dean Lofthouse]

So they can delay payment

[Rob D]

People ask if you're vat registered for all the reasons prev listed. I'm not vat registered because 90% of my customers are not vat registered and most of what I earn is for a service and not on top of a product. After you have your basic truck, chipper and chainsaws there's not much vat to claim back (for me there wouldn't be) And I don't want to get bigger and run 2 or more trucks etc.

 

If you want to expand your business, employ more people and grow you may as well go vat registered. If you're always going to be a small company doing private work then why be 10% (real terms) more expensive than you are now and also have more paperwork to do.

[Stephen Blair]

what is the vat thresh hold? it used to be 45k i think, is it possible to survive running a van, chipper and employ one person making under 45k. what is your day rate?it must be under 200quid if you are working 5 days

[Mick Stockbridge]

what is the vat thresh hold? it used to be 45k i think, is it possible to survive running a van, chipper and employ one person making under 45k. what is your day rate?it must be under 200quid if you are working 5 days

 

65k I think......It was the last time I looked into it.

Edited May 24, 2009 by Mick Stockbridge

[Stephen Blair]

65k I think.

 

68k i just checked:001_smile:

[gibbon]

It was 65K when I registered. IMO it is impossible to run a van, 1 full time employee, chipper and insurance and stay under vat and work full time. Unless you are earning less than your employee.

[skyhuck]

Why do so many domestic customers ask for an invoice for a piddly little job?

 

Are they short of bog paper?

 

Some, particularly the elderly are fearfully that we may come back for the money a second time claiming they had not paid, so a receipted bill if proof they have paid.

[Johny Walker]

It was 65K when I registered. IMO it is impossible to run a van, 1 full time employee, chipper and insurance and stay under vat and work full time. Unless you are earning less than your employee.

 

totaly possible, depends on you running costs, & how much you think you should be earning, spread the vat limit over the year taking off your 6 wks unpaid leave & you have a gross of about £1,400.00 per week & have a good accountant

[Dean Lofthouse]

Some, particularly the elderly are fearfully that we may come back for the money a second time claiming they had not paid, so a receipted bill if proof they have paid.

 

I insist on cheques and they still ask for invoices, some even send the original invoice back with the cheque

[Ian C]

Some, particularly the elderly are fearfully that we may come back for the money a second time claiming they had not paid, so a receipted bill if proof they have paid.

 

Spot on, the old people want it for that very reason.