To VAT register or not to VAT register?
Discussion
You don't have to register for VAT if you believe you wont exceed the threshold, but as soon as you beleive you are going to you have to register.
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
mondeoman said:
You don't have to register for VAT if you believe you wont exceed the threshold, but as soon as you beleive you are going to you have to register.
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
Importing goods and flogging them to the public through a website but also to other businesses directly.Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
Goochie said:
mondeoman said:
You don't have to register for VAT if you believe you wont exceed the threshold, but as soon as you beleive you are going to you have to register.
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
Importing goods and flogging them to the public through a website but also to other businesses directly.Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
If you are mainly selling to non vat registered businesses, and if you do not actually NEED to register for VAT, then DO NOT REGISTER FOR VAT.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
singlecoil said:
If you are mainly selling to non vat registered businesses, and if you do not actually NEED to register for VAT, then DO NOT REGISTER FOR VAT.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
mondeoman said:
You don't have to register for VAT if you believe you wont exceed the threshold, but as soon as you beleive you are going to you have to register.
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
goochie said:
Importing goods and flogging them to the public through a website but also to other businesses directly.
He's buying from the EU and selling to business - I'd go for definite VAT registrationmondeoman said:
singlecoil said:
If you are mainly selling to non vat registered businesses, and if you do not actually NEED to register for VAT, then DO NOT REGISTER FOR VAT.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
mondeoman said:
You don't have to register for VAT if you believe you wont exceed the threshold, but as soon as you beleive you are going to you have to register.
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
goochie said:
Importing goods and flogging them to the public through a website but also to other businesses directly.
He's buying from the EU and selling to business - I'd go for definite VAT registration
mondeoman said:
singlecoil said:
If you are mainly selling to non vat registered businesses, and if you do not actually NEED to register for VAT, then DO NOT REGISTER FOR VAT.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
Remember what VAT is, it's a 15% tax that you pay on the value that you have increased your product by. If you are not increasing the value of your produce, then you will not be making any money. It is particularly important for businesses that sell a high proprtion of labour to avoid VAT if they can.
mondeoman said:
You don't have to register for VAT if you believe you wont exceed the threshold, but as soon as you beleive you are going to you have to register.
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
Personally, I'd register and be done with it, rather than try and play catch up later in the year. Being registered allows you to offset VAT on purchases against VAT on income, so you won't necessarily have to pay anything for a while anyway.
What business are you in?
goochie said:
Importing goods and flogging them to the public through a website but also to other businesses directly.
He's buying from the EU and selling to business - I'd go for definite VAT registrationDave_ST220 said:
You think going VAT registered when you sell to the public would go against you-it doesn't. Like i said-sales went through the roof. VAT registered means more credibilty=more sales.
Well then I guess that all depends on the business. In some businesses, being up to 15% more expensive is a problem, obviously in yours it isn'tWhen you import the goods, you have to pay VAT on entry to the UK. If you register for VAT, you reclaim all the VAT you paid on entry on your next return, and then charge it as and when you make each sale.
Surely if you don't register, you'll not be able to reclaim it, and in order to preserve your margin you'll have to increase your price anyway?
Surely if you don't register, you'll not be able to reclaim it, and in order to preserve your margin you'll have to increase your price anyway?
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