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going vat registered


simonm
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If you do it for nothing, process it and sell it to them as firewood then you may be able to, as long as there is no charge for labour

 

 

But the logs some of us sell are from trees we've been paid to cut...so strictly speaking you could give it a go but I reckon you'd be investigated after a year and it wouldn't be pleasant!

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I went vat 3 yrs ago, can't see why people make a big issue of it really, pretty much everybody I deal with from my garage to kit suppliers are vat reg so why as a business should I be? When you go vat reg you will realise how expensive second hand kit from non vat firms is compared to brand new!

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Don't get carried away into thinking you can always claim back VAT on secondhand kit bought from a dealer.

 

Kit that a dealer has bought from a non vat registered customer may well be being sold under the HMRC "margin scheme"

This basically means that the dealer is only accountable for the VAT on the value added to the goods at the point of sale, i.e his profit.

Invoices for items sold on this scheme will not show any Vat and will be clearly marked that the purchaser can claim back no Input Vat on the purchase.

Its worth checking first rather than assuming that every £120 machine will only cost you £100 as in a new purchase, or used machine sold under normal VAT ruling.

 

Sorry if this sounds a little complicated

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