Originally posted by 5000
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Changes in Flat Rate Tax Scheme 1/4/17
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Originally posted by Lance View Postthat won't work unless they're goods you sell. You cannot just increase your general expenses or buy more assets. There is a list of exclusions that won't count. Read them and then switch to normal VAT anyway.
Any takers?
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Originally posted by 5000 View PostI'm looking to sell some stuff that would cost me circa £1000 to source. Willing to sell on for £999 + VAT ex works
Any takers?
The conclusion remains for most of us it is simple enough to switch to the standard rate scheme at the expense of a bit of added paperwork and receipt collection (if you're inclined to want to reclaim the VAT on everything).Comment
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Originally posted by 5000 View PostI'm looking to sell some stuff that would cost me circa £1000 to source. Willing to sell on for £999 + VAT ex works
Any takers?
Or am I misunderstanding the system?Comment
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Originally posted by hugebrain View PostSeriously, wouldn't you be OK selling the £1000 item for say £300 plus vat. This way you shouldn't have any trouble making the sale and you still make a 300 pound profit after tax?
Or am I misunderstanding the system?Comment
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So we've got hugebrain and genius on the forums today with some.. Erm... Odd questions
I can't wait for Haven'tAF***ingClue and NoIdea to register and start posting'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by TheCyclingProgrammer View PostIf you think buying something for £1000 and selling it for £300 would give you £300 profit then you're misunderstanding more than just VAT...
You make money, your customer gets a good deal, your enemies miss out on the extra tax. What's not to like?Comment
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Originally posted by hugebrain View PostI thought that if you do it right, you spend a thousand, save a thousand in tax, then sell for three hundred, giving you a sweet 300 quid profit?
You make money, your customer gets a good deal, your enemies miss out on the extra tax. What's not to like?Still InvoicingComment
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Originally posted by northernladuk View PostSo we've got hugebrain and genius on the forums today with some.. Erm... Odd questions
I can't wait for Haven'tAF***ingClue and NoIdea to register and start postingComment
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FTFY
Originally posted by SlipTheJab View PostPC and Suity, also known as Hinge and Bracket, will be along in a bitThe Chunt of Chunts.Comment
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