Quote:
Originally Posted by Davey
Andy, don't get caught out like I nearly did with VAT registration. It runs on a rolling 12 month turnover not your financial year's turnover which is what I had thought till my accountant put me right. VAT registration is not difficult if you have a good accountant and if you use Sage for your accounts it does all the calculations for you, its just signing the cheques that hurts  . You will also have to include VAT on the items you sell.
Hope you don't think I'm trying to teach me granny to suck eggs, D. |
No problem at all, thanks Davey. We started off slow and increasing every month so i would guestimate that June / July we'll have hit the target. The only daunting thing is the extra paperwork and the 3 monthly deadline plus the VAT man can be much more brutal than tax man.
Don't want to hijack andy's thread but the NI contributions get me wound up more. They never used to be so bad but my last few years in employment, 7 years ago, i was on a good wage and paying a fortune in NI so that and tax it was hardly worth it.
All the Breast Andy......AndyH