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Reduced VAT Rate

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    Reduced VAT Rate

    Just submitted my first reduced VAT Rate Invoice....wooooooo

    How exciting
    Thats the way the cookie crumbles

    #2
    Originally posted by Cooperinliverp00l View Post
    Just submitted my first reduced VAT Rate Invoice....wooooooo

    How exciting
    I hope they don’t do this in NL. I rather enjoy putting the VAT I’ve collected into 3 month savings letters and catching some interest on it before paying the vat man. Double whammy; the interest rate’s gone down too. That used to bring in an extra 1400 euros per year before all the interest rate cuts.
    And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

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      #3
      Originally posted by Cooperinliverp00l View Post
      Just submitted my first reduced VAT Rate Invoice....wooooooo

      How exciting
      Why are you happy about this?!
      The pope is a tard.

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        #4
        Just had my first reduced rate VAT invoice paid.
        Will work inside IR35. Or for food.

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          #5
          Originally posted by SallyAnne View Post
          Why are you happy about this?!

          Not sure it's just exciting !!
          Thats the way the cookie crumbles

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            #6
            slightly related question: the interest you earn on the VAT that's sat in your business account - is this included as a profit on your balance sheet? (i.e. do you then have to pay 30% corp tax on this interest too).

            Likewise, if I stick all the corp tax money from 2008-09 into a business savings accoutn and earn £1k in interest before I have to pay the CT to hector the following Jan, does this count as company profit for the year 2009-10?

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              #7
              Yes. With a few little exceptions (e.g. corporation tax itself), "in" minus "out" = "profit" however they come about.

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                #8
                Originally posted by Cooperinliverp00l View Post
                Just submitted my first reduced VAT Rate Invoice....wooooooo

                How exciting

                So have I, it was a pain in the ass.

                I built myself a nice little invoicing database a while back that just needed a slight change for the new rate.

                Of course, without doing a proper impact assessment and following a change control process (that I constantly whine on to my clients about), my database now shows all previous invoices as having charged 15%. brilliant.

                im an idiot.

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                  #9
                  It's right about now I'm thinking the FRS is actually more complex that the normal route.
                  Feist - 1234. One camera, one take, no editing. Superb. How they did it
                  Feist - I Feel It All
                  Feist - The Bad In Each Other (Later With Jools Holland)

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