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Newbie Question - Quote Rate Including/Excluding VAT?

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    Newbie Question - Quote Rate Including/Excluding VAT?

    I'm about to make the big step from 10 years permanent employment to contracting, and whilst I've started applying, it suddenly occurred to me whether or not the fee I state I require is usually given including VAT, or excluding VAT. What is the generally accepted way of doing it (if there is even one)?

    For example, if I put a required rate of £400/day, is it generally assumed that it will include VAT, or be excluding VAT? I know I can obviously state it, but I want to make sure I give the information expected, and don't want to drop the bombshell that I have added VAT on top when I suddenly send an invoice, for example.

    Or is there no generally accepted way of doing it?

    Thanks

    Frank

    #2
    Originally posted by franksmith View Post
    I'm about to make the big step from 10 years permanent employment to contracting, and whilst I've started applying, it suddenly occurred to me whether or not the fee I state I require is usually given including VAT, or excluding VAT. What is the generally accepted way of doing it (if there is even one)?

    For example, if I put a required rate of £400/day, is it generally assumed that it will include VAT, or be excluding VAT? I know I can obviously state it, but I want to make sure I give the information expected, and don't want to drop the bombshell that I have added VAT on top when I suddenly send an invoice, for example.

    Or is there no generally accepted way of doing it?

    Thanks

    Frank
    Excluding. Always excluding.

    VAT can be claimed back. It's not an issue.
    What happens in General, stays in General.
    You know what they say about assumptions!

    Comment


      #3
      Originally posted by franksmith View Post
      I'm about to make the big step from 10 years permanent employment to contracting, and whilst I've started applying, it suddenly occurred to me whether or not the fee I state I require is usually given including VAT, or excluding VAT. What is the generally accepted way of doing it (if there is even one)?

      For example, if I put a required rate of £400/day, is it generally assumed that it will include VAT, or be excluding VAT? I know I can obviously state it, but I want to make sure I give the information expected, and don't want to drop the bombshell that I have added VAT on top when I suddenly send an invoice, for example.

      Or is there no generally accepted way of doing it?

      Thanks

      Frank
      Without VAT.

      Now, where's the booze, do you like films about gladiators and can I see your porn collection please?
      Knock first as I might be balancing my chakras.

      Comment


        #4
        Ah fook me it's another MF sockie thread.

        <threadflounce>
        Knock first as I might be balancing my chakras.

        Comment


          #5
          Originally posted by suityou01 View Post
          Ah fook me it's another MF sockie thread.

          <threadflounce>
          Don't hate the player Suity. Don't hate the player.
          What happens in General, stays in General.
          You know what they say about assumptions!

          Comment


            #6
            Thanks both.

            And is there a private joke I'm missing there?

            Comment


              #7
              Originally posted by franksmith View Post
              Thanks both.

              And is there a private joke I'm missing there?
              Welcome.

              This site has more injokes than a Terry Wogan Radio 2 show.

              If you need answers to serious questions post them
              in our professional forums where you'll get a serious answer, post in General and you'll bump into
              our care in the community posters like Suity above.

              Hth

              MF
              What happens in General, stays in General.
              You know what they say about assumptions!

              Comment


                #8
                your rate should not include VAT.

                you claim VAT from the client at the standard rate, you pay the tax man at the flat rate, the client claims it back from the tax man.


                there is lots of paperwork and bollocks, we make a little, the taxpayer loses a little

                its a typical blivet by government




                (\__/)
                (>'.'<)
                ("")("") Born to Drink. Forced to Work

                Comment


                  #9
                  Originally posted by franksmith View Post
                  And is there a private joke I'm missing there?
                  Almost certainly. They're lost on me too. You get used to tuning them out after a while.

                  Comment


                    #10
                    Originally posted by thunderlizard View Post
                    Almost certainly. They're lost on me too. You get used to tuning them out after a while.
                    WTLS
                    Practically perfect in every way....there's a time and (more importantly) a place for malarkey.
                    +5 Xeno Cool Points

                    Comment

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