[Liahona]

Calmore, the vat that you charge isnt an income as it isnt yours in the first place.  I understand what you are trying to say but there isnt a swing or a roundabout in this idea. Best, Dave.

[carpetclean]

Personally think it is an advantage to be vat registered. Ok you have to add 17.5 to your prices but even if you didn't increase your price you would still be reducing your taxable income so would benefit from paying lower income tax.
Anybody thinking of resgistering don't forget you can claim vat back on purchases retrospectively, can't remember exactly how far back you can go.

john its three years  sp if you hade high set up costs iand been in the game only a couple of years ts well worth considering

[Steve Chapman]

surely it's alot more paper work to do

I've heard many say it's a headache and you end up being an unpaid tax collector and have then un registered

Is it worth doin if you don't need to???

regards
steve

[Phil Marlor]

You lot must be mad if you think being vat regestered is better! Why on earth would you think that?

I used to run 2 companies which pushed me over the limit and had to be registered, I got rid of one business and was then able to de-register and it was the best think I ever did.

Kept my prices the same which allowed me to  earn an extra 17.5% every job , you will never purchase enough matirials to balance it out with your sales so why would it be an advantage.

Also, do you really think your domestic customers want to see vat added to the price, no benefitt for them whatsoever!

Used to hate writing that big cheque out to the vat man every 3 months.

Phil

[Mr BSF]

You lot must be mad if you think being vat regestered is better! Why on earth would you think that?

I used to run 2 companies which pushed me over the limit and had to be registered, I got rid of one business and was then able to de-register and it was the best think I ever did.

Kept my prices the same which allowed me to  earn an extra 17.5% every job , you will never purchase enough matirials to balance it out with your sales so why would it be an advantage.

Also, do you really think your domestic customers want to see vat added to the price, no benefitt for them whatsoever!

Used to hate writing that big cheque out to the vat man every 3 months.

Phil

Ur right Phil, if your main customer base is domestic, then its better to keep your books under the 61k limit