[Danny Guest]

Like it says im getting closer by the day.
whos registered and how was becoming VAT registered?

Also heard about zero/flat rate VAT who uses this to their advantage?

Thanks in advance
Danny

[Pope vader]

go see ur accountent, he will advise you which was is best

[John F]

thats good going. how long did you need to get your turnover to that level?

[Bushboy]

Are u going to pass on the vat to your custys  , ie 20 % or the flat rate , etc ,
Have you worked out how much you could claim if you added up all your customer
Invioces  for last year as a guide to what you could claim back against invioces you've paid out on ie fuel etc .
 

[Danny Guest]

Just over two years or so. Theres been a really big push in the last 12 months. Im getting closer by the week and i expect to be topping the threshold before march 2012.
I want to get a plan in place for when that time comes because ive had unbelievable canvassing results over the last month and if it continues i should be there about christmas time.

Im speaking to my accountant tomorrow and i will see what she says and take any advice and peoples experience on board before making the decision whether to cross it or not.

I have add on services such as Gutter Cleaning, Upvc Cleaning and Conservatory Roof Cleaning and im looking towards investing in Carpet Cleaning equipment to diversify more with the vision of these extra services helping to take me a decent way over the threshold to make a jump worth the while.

Danny

[Danny Guest]

Are u going to pass on the vat to your custys  , ie 20 % or the flat rate , etc ,
Have you worked out how much you could claim if you added up all your customer
Invioces  for last year as a guide to what you could claim back against invioces you've paid out on ie fuel etc .
 

This is something i will discuss with my accountant. I havent decided as of yet whether to pass on the vat or take a hit myself to avoid raising prices. All but a few customers are domestics so i havent been invoicing them. The businesses are the only customers i invoice.


Danny

[Bushboy]

I used to have retail businesses , great for vat , lots of benefits as claiming back on all Stock purchased ,

Looked at for wc , can't see how it would add up lol for domestic , ok if your commercial , as they claim back as well ? ,

Domestic custys  can't eh ,

[Danny Guest]

Thats why i think the flat rate VAT would be better for my business as a whole but i would like to hear from the larger operators on the forum who have already had this experience as to which route they took.

Best Regards
Danny

[Rogue Trader]

lots of people do anything and everything to stay under the threshold and IMO it is a complete waste of time , i too worried about what i would do with domestic custys and how much of an extra headache it is but honestly it was easy! You have to do it if you wanna grow you have no choice. dont listen to the doubters!! The flat rate scheme is great as the quarterly vat return takes minutes and you can stay in this scheme until your turnover is £250k inc. In terms of adding VAT to domestics i added vat to most of mine except the over/nicely priced ones and sent them all a letter explaining i was doing it with a promise not to raise my prices for the next 3 years. i only lost a handful and interestingly the ones i lost were the badly priced custys that i couldnt care about anyway..... i am sure people (who arent and never will be vat registered )will respond to this and pick it apart but dont listen , do it as it is the only way forward and dont be scared!

[rscleaningservices]

Danny Boy if you mainly do domestic you would be silly to get vat registered as im sure you get paid lots by cash of which I wouldnt pay into my bank and would get taxed on it ... If you do go vat registered you will have to add on the 20% vat ontop of the price you charge your customers and then would have to invoice each and everyone which to me would take so much time and the custies would go elsewhere hope this helps ...

[Bushboy]

Mmm not being negative , just being catious , I run another company with my wife ,
It's vat registered ,

It's a big commitment , the vat man wants his money , & from experience
Regardless what's happening he & the tax man are  top of list over everybody
Else when it's gos south ,

All I'm saying is do ya home work , my old business had a 2 million turnover ,
I gained big time being vat registered ,

My mate is vat registered for commercial window cleaning ,
If I had a pound for every time he's sat down the pub & said crap , don't know where I going to find the money this quarter , I'd be rich .

But on the up side he's always waiting for the big money to come in from his larger
Contracts , where there invoicing is always late or never ,

Less of the small as well , you'd be surprised  

Being vat registered isn't the be all end all ,

Sales are vanity
Profits are sanity
Know what I'd rather have ,£££££ rather than a vat number ,
 

[michael o]

my wifes an accountant any help needed self assessment ect contact me

[Rogue Trader]

My decision to go VAT registered rested on the fact that i needed to grow my business to such an extent so i could put down the tools and run my business from behind a desk ...... this was the best decision i have ever made! i now only look to increase the size of my business in a legitimate fashiom .... this was a great decision and plan for me but i suppose this is all about what you want.

[Danny Guest]

Thanks for the replies.
Some interesting things there to think about. I will be discussing a lot with my accountant either tomorrow or tuesday so i will be in a better and more decisive position then.

Thanks again
Danny

[StockClean]

Hope it goes well Danny. Im interested to see what your accountant will suggest.

[spongebob]

Just over two years or so. Theres been a really big push in the last 12 months. Im getting closer by the week and i expect to be topping the threshold before march 2012.
I want to get a plan in place for when that time comes because ive had unbelievable canvassing results over the last month and if it continues i should be there about christmas time.

Im speaking to my accountant tomorrow and i will see what she says and take any advice and peoples experience on board before making the decision whether to cross it or not.

I have add on services such as Gutter Cleaning, Upvc Cleaning and Conservatory Roof Cleaning and im looking towards investing in Carpet Cleaning equipment to diversify more with the vision of these extra services helping to take me a decent way over the threshold to make a jump worth the while.

Danny

Hi Danny
Do you realise the vat threshold limit is a rolling 12 months figure? You drop one month as you add the latest.
Andy

[Helen]

Mmm not being negative , just being catious , I run another company with my wife ,
It's vat registered ,

It's a big commitment , the vat man wants his money , & from experience
Regardless what's happening he & the tax man are  top of list over everybody
Else when it's gos south ,

All I'm saying is do ya home work , my old business had a 2 million turnover ,
I gained big time being vat registered ,

My mate is vat registered for commercial window cleaning ,
If I had a pound for every time he's sat down the pub & said crap , don't know where I going to find the money this quarter , I'd be rich .

But on the up side he's always waiting for the big money to come in from his larger
Contracts , where there invoicing is always late or never ,

Less of the small as well , you'd be surprised  

Being vat registered isn't the be all end all ,

Sales are vanity
Profits are sanity
Know what I'd rather have ,£££££ rather than a vat number ,
 

Why do people find it hard to meet their vat payments? It's not difficult
It's not your money, so as soon as an invoice gets paid, put the vat away in a separate account and when your vat bill comes in you can pay it.......simples.
IMO people spending their vat money are on the rocky road to the opposite of success

[Helen]

Danny, let us have some feedback on what your accountant has advised you to do.
Are you working on your own or do you have staff?

[sam125]

My decision to go VAT registered rested on the fact that i needed to grow my business to such an extent so i could put down the tools and run my business from behind a desk ...... this was the best decision i have ever made! i now only look to increase the size of my business in a legitimate fashiom .... this was a great decision and plan for me but i suppose this is all about what you want.

agree 100%

[Perfect Windows]

Why do people find it hard to meet their vat payments?

Because they are idiots.  There is no other possible reason (seriously)

Vin