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Vat

CNS-southwest

Well-known member
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3,708
Right hope someone can help me here.

I have a commercial job tomorrow an ill be invoicing it on a 30 day basis.

I'm registered as a sole trader NOT vat registered.

Do I/can I still do a vat invoice so they can claim back there vat??

Thanks

Dave

 
No you cant Dave, have they done a purchase order? Always a good idea to get them to do one, that way you are both clear what needs to be done.

 
they wont be paying vat if you dont charge it. if you was vat registered and you charged them £100 for the work you would then add 20% vat on top of that so your total bill would be £120 and they can claim the £20 vat back but they can still put your charge down to exspenses and get tax relief on it

 
Ahh right ok I see So if I became vat registered would I need to charge my domestic customers 20% more aswell??
yer thats right! all have to go up by 20%

the ones you invoice anyway,if you know what i mean! /emoticons/wink.png

 
Ahh right ok I see So if I became vat registered would I need to charge my domestic customers 20% more aswell??
yes anything that you earn is 20% no matter how many pounds you earn and if you dont pay vat and they catch you, Well its not going to very nice experience because everything can be taken away
Lol wasn't planning on not declaring stuff lol

 
If you are earning 75k is when you HAVE to register for V.A.T.

You can voluntry register before though I think.

 
I don't see the benefit will be worth for me as trad at this stage, however if I was to go van mount wfp (which I do plan on having) then I will register for vat just before this point, unless of course I earn more than 75k lol

 
theres a big disadvantage in being vat registered running a small business ,when pricing for domestic jobs would make you 20 percent dearer than the competition so i wouldnt be in any hurry to become a tax collector for the inland revenue. maybe worthwhile if you had a few vans and were targetting big commercial work

 

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