Vat registered

[rshandyman]

Are many of you vat registered?

 

[Smurf]

why?

 

[Smurf]

Is your VAT taxable turnover more than £81,000?

 

[rshandyman]

Just curious.me no way that I have turnover like that.

 

[cheapncheerful]

as long as they dont look under smurfs mattress...

 

[Smurf]

I don't think many domestic customers would be happy to pay vat having their windows cleaned somehow.

Also If you are voluntary registered for vat then you have to charge vat on every job you do.

 

[rshandyman]

Unless you keep the same price and pay vat yourself but working alone it is impossible to reach that turnover at least for me

 

[boarcity]

im not but one benefit i seem to recall [unless the rules have changed] ,is that when you go VAT registered you can claim back vat paid on capital items such as a van ,equipment etc - going back till the time you first started-as long as you still have them

 

[rshandyman]

im not but one benefit i seem to recall [unless the rules have changed] ,is that when you go VAT registered you can claim back vat paid on capital items such as a van ,equipment etc - going back till the time you first started

You have 4 people working for you right?how can You not reach that turnover...

 

[boarcity]

iv 3 workers right now .

one thing i learned from a previous life where i was vat registered for about 3 yrs then de-registered , was theres nothing to be gained by it [apart from the initial windfall from recovering the vat on capital items still owned but bought over the previous years ]

my guess,and it is a guess, is that id have to jack up residential prices a tad across the board the moment of registration -and eat some of the original price - to cover the vat to be paid each quarter or id seriously lose out

for example if a job was £10 originally, with vat added it becomes £12 . but that new price might be too high ,so cancellers will happen . id prob instead increase the price to only £11[includes vat] and then when i paid the vatman some small amount would be coming out of my pocket

theres a lot of ways to stay under the vat limit,not all of them dodgey i might add . i wont be going over the vat limit anytime soon