[PaulineH]

Hi there, Just wondering what the general feeling is about becoming VAT Registered. I have found a good accountant (i think) he said it gives you more credability with companies if your registered. Has anyone found it to be negative not to be registered, or has it worked against you when bidding for contracts? Any thoughts on this would be appreciated thanks....Pauline

[*Chris Browne]

It has never hindererd us, only helped in credibilty.......

 

[sherco]

Depends who you want to aim your buisness at, if domestic then no, but if commercial then maybe, only go vat registered if your turnover is £64,000 per year i think.

[*Chris Browne]

The current VAT registration threshold is £67,000, but you can register before you get to this figure.

[PaulineH]

Thanks for your replies.

I'm not going down the domestic route, and i'm pretty sure i wont be reaching that VAT threshold limit, but as i'm just starting out i want to get things sorted out properly right from the start. It seems there arn't any negatives to being registered, or am i being a bit nyeve.

Thanks for youe help...Pauline
 

[liahona]

I havent heard a good reason for not being registered.  A domestic market isnt a good reason.  With the price of fuel alone, getting back 17.5% is reason enugh to be registered.

I registered before I had ever cleaned anything or even had one client.

Best , Dave.

[paul D long]

Hi Guys you can regester for vat but in our line of work you can sign up to the flat rate scheme you start off paying 10% then move to 11, Has its good points and bad if you decide to buy a big purchase like a van you can claim the full ammount, though i am not an accountant so they are the guys/gals to ask.

[dandandan]

You need your accountant to see if you will be claiming back more than what you will be paying out,you might be better off with 2 companies with 2 accounts,vat i think is every 3 months and you have to be on the ball,get the best accountant you can afford and he will save you his outlay.