V.A.T

[Guest naughtydog]

Over 61k turnover - NOT earnings..unless you run at 100% profitability.

I'm VAT reg'd and it can be a pain - dealers like it, joe bloggs does not.

It can be hard to remain competitive with the low ballers.

[Guest firstglass]

you know they need it-------------------------------

[Guest VaTinterPMan]

VAT = Buuuu Lock so that = Duuuu mmmmmbbb.

[LEO'n'DARTZ]

Paying some 15 years

On that moment my own government are in debt to me - I overpaid, but will never get my money back

[Guest vampire]

For all you people in the uk ask about changing to FLAT RATE it is 7% on your net takings, you still charge 17.5% but no claim back as most of your invoice value is labour you will keep a lot more of your $

[Guest Diamond Tints]

Just had to go vat registerd. 17.5% on everything now.

Has anyone else done this and did they lose any work through it ?

Not many people wanna pay VAT

All I have to say is :thumb no luck

[Guest naughtydog]

For all you people in the uk ask about changing to FLAT RATE it is 7% on your net takings, you still charge 17.5% but no claim back as most of your invoice value is labour you will keep a lot more of your $

I hav been looking into the flat rate scheme - juts got to make the decision

[Guest naughtydog]

For Vampire.If your customer is not vat Reg'd - do you need to charge VAT?? Fpr example joe bloggs No VAT and for dealers = you charge VAT??

This is how it reads on the governments website

"Must I issue VAT invoices?

If your customers are registered for VAT, follow the normal rules and issue a VAT invoice. The flat rate scheme affects the way you calculate the VAT you owe to us but does not change the VAT rate applicable to your sales. This means that when you issue a VAT invoice, you show VAT on it at the normal rate for that type of supply (not the flat rate percentage)."

[Guest vampire]

Your invoice stays the same trade can still reclaim 17.5% on there input you only hand over a flat rate of 7% even when you have charged 17.5% on your output invoice

[TINTZEUS]

Is VAT like a 1099 here in the US....