[marc al]

   I am on for a record month earnings wise, wont tell you what it is, but I am very happy!

   But today I took my van in as it was having starting problems when the engine is hot, 2 of the Deisel injectors had packed up, not a problem I thought, knowing that they are very simple little things - at least they are on petrol engined cars - not on a bloody Merc van they aren't, 212 pounds each, plus labour, plus Grabber Browns 17.5%, 557 quid in all.

   Thats the extra profit this month gone then!!

[Russell Macdonald]

Bad news dude but at least it didn't hit you on a bad one.

Macc

[Chris A]

marc
      Great to hear you are earning well, I've had a bad month.
Vans break sometimes so buy a new one or lease
Surely when getting your van you should of known the parts wouldn't be cheap
17.5% is what we all pay so get vat registered
Chris

[ScrimShady]

i will tell you a cheaper fix, i have been a deisel specialist for a few years and i would recomend finding a injector specialist to get them rebuilt, i have had mine done by a local firm and they cost me £30 each, alot better then £275 for new ones, rebuilt one are as good as new i think.

[marc al]

   Chris

    It is a relatively new van, I was not really winging, just a tad peed off about it today, and I would rather eat my own balls  than register for  VAT, my uncle is a VAT man and he tells me to steer clear at all costs!

   Scrim

    Too late, they had to be replaced so I could get working, I have no time for having the van off the road, lost an afternoon yesterday and a couple of hours this morning, that is more than enough.


   Marc

[Moderator David@stives]

surely not registering for vat , you are holding your business and earning potential back.

Thats if you are purposely keeping your income down to avoid it.

vat is nothing to be scared , to save your self any headaches just get on the flat rate scheme.

Dave

[Chris A]

marc
      I've been vat registered for a few years now and I think it saves me a fortune.
Whatever vat you pay out on business related expenses, fuel,tools etc  you knock off what you owe to the revenue. You have already charged your customers the vat.
VAT charged.... £3500 on your turnover in the 3 month period
VAT reclaimed..£1000  spent on fuel ,equipment etc
£1000 saved
Buy a van for £10000 and you will pay vat of £1750, if your'e vat registered you can claim the £1750 back on your next return.
It's the customer who is paying the vat not you , just don't spend it like I've done a couple of times
Chris

[Alistair@AWC]

vat is nothing to be scared , to save your self any headaches just get on the flat rate scheme.

Dave

Dave how much does the flat rate run at, was speaking to an accountant about that briefly last week but we didnt get onto specific figures (I wasnt paying thats why  )

[Moderator David@stives]

I think 11% but first year its 10%,

[Helen]

depends what your business title is too! Window Cleaner comes under "any other business not listed " but cleaning services ciomes under something else and is 1% higher than wc'ng.....I think anyway unless it has changed as it ssems so long ago that we registered

[Alistair@AWC]

Cheers guys and gals,

So how exactly does the flat rate work do they estimate your earnings for the year then charge you at that?