skyhuck

No, you charge 17.5% and pay 9.5% of all turnover, but you cannot claim back vat on fuel or any other running cost, except capital purchases over £2k.

There are different % rates for different trades.

Thats one to ask the accountant, but I would thought per item.

You can only claim back vat on capital purchases over £2k.

Is it not the other way round??? On the FR scheme you pay a % of turnover, even income where no vat was charged. Where as with standard vat, you only pay vat collected, less vat claimed back.

I take your point, but is that a reason to treat all as though they have limited ability?? The car analogy is far from idea (as you point out), you don't need training to drive on your own land, a license is one of the conditions for joining the "club" that use the public roads. You can get a gun and a gun license without training, maybe the checks that are done in order to obtain a gun license show you are fit to own a gun???

WOW!!!!!!!!!!!!!!!!!! Are you a pacifist?? So should the police just ask a thief to just come with them please?? Should we have just asked Hitler to please leave Poland?? I am not fan of violence, but I will not give up things (or stuff if you prefer) that I have worked hard to buy without a fight. Your speeding analogy is not a good one IMO, if you exceed the speed limit you don't intend to hurt any one, its wrong yes and you WILL be punished if caught and benefit cheats and tax evaders will also be punished if found out. As for forgiveness, I have no need to forgive unrepentant scum in order to get on with my life. I don't see why none forgiveness must lead to bitterness???

I think I must see the world very differently to most. I have never had any formal training, my dad used a saw when I was a boy, never had any training or any accidents. (He never let me use it) Not long after I got married at 20, I hired a saw to fell some dead Elms for fire wood, my dad showed me how to sharpen it. I then bought my own saw and a sharpening kit. I felled and cut up lots of trees (some pretty big) having only read the book that came with my SH Husky 266. The book showed how to make felling cuts, maintain the saw and sharpen the chain. Once I got into the trade I watched other climbers, bought some SH climbing gear and taut myself at the week end. I can recall felling and crosscutting in shorts and trainers, when I first got my saw.(not recommended) I personally find all this "you must have training" attitude a little patronising. I wonder if treating people as thou they are incapable is leading to the lack of self confidence and common sense. PS I have been assessed and obtained my NPTC.

Not sure you are right about this, I have NO over draft on my company bank account, don't want one but if I wanted one I would have get a witnessed affidavits to say I will personally act as guarantor for any borrowings. I have no problem getting finance on equipment, as I use asset finance, so the money is secured against the thing I buy. I don't really see how a creditor would find the fact that some one has limited their liability as a positive thing?? Does it not just make it more difficult for them to get their money back if things go wrong?? I agree that other firms, who you wish to deal with see LTD Co's as more legitimate, but in this situation it's normally us extending credit to them not the other way round.

I feel your pain:crying: What model mog you got?? And what gone wrong with her??

I have four children so the family tax credits add up.

yes..

10 years, first did it for the tax free dividends, but I asked recently if it was still beneficial and my accountant assured me it was.

Is it not on a taper from 0% to 10% up to £30K?? Also don't you pay less TAX on assets, as they belong to the Co not you?? I'm no exspert n tax, but my accountant assures me that being LTD is tax efficient for me and my wife (She is the Co secretary)

Nice one !!!

If he wasn't, I dread to think what goes into that butter alternative!!!!:scared1:

Lee did your big Vermeer not have hydraulically driven head???

May be some Bumblebee's are always killed by harsh winters, when numbers were high it was not a problem, but if they are in decline this could be just one more nail in their coffin??

If you are not far under the £150K turnover limit they may not let you go onto the FR scheme. I seem to recall another AT member trying to register or FR and they were told they couldn't, the VAT man said the thought his turn over was greater than was being declared!! It seemed very strange to me that they could say that and yet not pursue him for undeclared income??BUT thats what he said.

You need to click on "edit" and then the delete option. Steve types faster than me.

So your already registered??

Thats what we did. IMO, one of the advantages of the FR scheme is that you are not really able to make any errors in the calculations, if you have been claiming VAT back on something for a few years and they inspect you and say you were wrong, you will get a bill for back payment. When you are just paying a % of turnover there is much less chance of an error.

When editing quotes don't delete the bits in brackets at each end of the quote, or it will no longer look like a quote. You have 10 minuets to edit or delete any post you make.

I believe you can only be on the flat rate scheme if your turnover is under £150K.

BUT you get NO VAT back on ANY of your running costs, such as fuel or subcontractors and only get VAT back on capital purchases over £2K. I turnover a little over £100K and save about £800 by being on the scheme and my admin is easier.