Ok firstly I know f* all about accounting and so forgive me for sounding like a tool. To cut a very long story short.. I'm heading back to Oz in 3 months, my ltd company is not registered for VAT, this has taken months to get registered and is still not, the HMRC have been so bureaucratic. Got a call from my accountant (SJD) and she said that not to bother registering after all as by the time I register it will be time to de-register. She said speak to HMRC and 'make a deal'? What now? They're not a car dealership. What does she mean make a deal. I think i owe £10K in VAT.
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VAT query
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Unlike the taxman, the VAT people are pragmatic and sensible. If you have gone over the turnover limit for VAT you have to pay it whether you are registered or not. So talk to the VAT helpline, explain the circumstances and they will almost certainly agree to a one-off payment. What you can't do is not pay them anything - they carry a big (and very long) stick.Blog? What blog...? -
Originally posted by malvolioUnlike the taxman, the VAT people are pragmatic and sensible. If you have gone over the turnover limit for VAT you have to pay it whether you are registered or not. So talk to the VAT helpline, explain the circumstances and they will almost certainly agree to a one-off payment. What you can't do is not pay them anything - they carry a big (and very long) stick.Comment
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Originally posted by malvolioUnlike the taxman, the VAT people are pragmatic and sensible. If you have gone over the turnover limit for VAT you have to pay it whether you are registered or not. So talk to the VAT helpline, explain the circumstances and they will almost certainly agree to a one-off payment. What you can't do is not pay them anything - they carry a big (and very long) stick.How fortunate for governments that the people they administer don't thinkComment
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Yeah, well, no helping some people, is there.
XTC - you must know what you believe your VAT liabillity to be now (even if you don't, SJD will) so that's what you owe. You can make an intelligent guess at what you are likely to owe between now and the end of the company. Add the two and I doubt the Vatman will argue too loudly.Blog? What blog...?Comment
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Hang on, am I missing something here? If I am, forgive me. But....
The OP says he's not registered for VAT.
Then he says he thinks his VAT liability is around £10K.
He can only have a VAT liability, surely, if he's added a VAT element to his invoices and received that on top of his normal fee?
If he's added that VAT element then it's fraud because he's not registered for VAT.
If he's NOT done that, then how can he owe £10K in VAT which he's not charged out?
A confused Miss Marple.....Comment
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If he has gone over the turnover limit (whatever that is now - £65K??) he has to apply VAT, registered or not. The OP has tried to register but it hasn't happened and is looking for a legally acceptable way to short cut the process.Blog? What blog...?Comment
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Originally posted by miss marpleHang on, am I missing something here? If I am, forgive me. But....
The OP says he's not registered for VAT.
Then he says he thinks his VAT liability is around £10K.
He can only have a VAT liability, surely, if he's added a VAT element to his invoices and received that on top of his normal fee?
If he's added that VAT element then it's fraud because he's not registered for VAT.
If he's NOT done that, then how can he owe £10K in VAT which he's not charged out?
A confused Miss Marple.....Comment
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Originally posted by TrollYou must have very different VAT people at your VAT office, my experience with them suggests petty rather than pragmatic, so much so that I now change my ltd company every 6 months rather than go over the 64k threshold
timComment
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