OK, who tried to shaft the VAT man, and lost?

[MrRobin]

Which one of you lot is this??!

http://uk.answers.yahoo.com/question...0082930AACPUv7

A good example of why you should NEVER, above all other taxes, mess up your VAT returns

[PAH]

Especially when VAT is by far the easiest tax to calculate yourself.

[NickFitz]

You have to admire the kind of mentality that, when confronted with a massive VAT demand, the threat of 100% penalties, and the likelihood of bankruptcy, sets out to find out what to do by posting on Yahoo! Answers

I probably shouldn't post this, but it's a real quote from a very senior developer at Y!, speaking at an internal webdev conference:

So much of what we do involves lists. Flickr is lists of images; del.icio.us is lists of links; Answers is lists of idiots asking 'How can I tell if I'm pregnant?'

[BrilloPad]

So what is cuk a list of?

[threaded]

So much of what we do involves lists. Flickr is lists of images; del.icio.us is lists of links; Answers is lists of idiots asking 'How can I tell if I'm pregnant?'

ROFLMFAO

[r0bly0ns]

So what is cuk a list of?

ATw's fembots.




And spartacus.

[NickFitz]

So what is cuk a list of?

Drivel, of course

[MarillionFan]

and of course the poor chap had been given the wrong advice anyway.

He only has to pay the fine and VAT on the 14K as the first 65K would have been VAT Free over the 12 month period

[Xenophon]

Wilm-slow, please post all of your questions on Yahoo! Answers in future.

Thanks.

[PAH]

and of course the poor chap had been given the wrong advice anyway.

He only has to pay the fine and VAT on the 14K as the first 65K would have been VAT Free over the 12 month period

Not so sure of that. Isn't it that you have to register for VAT when you know you're going to go over the threashold, which could be a lot sooner than hitting 65k, and have to pay VAT on anything once you should have registered? Similar to the 2 year rule on expenses, where you can't claim once you know you're going to go over 2 years.

In fact is must be. Those of us that register asap upon opening a Ltd company still have to charge/pay VAT well before we hit the 65k.