Has vat registration cost you business?

[Snapester]

But if I don't charge anything on materials and the customer got them for what I get them less the vat? Am I technically out of pocket till my tax quarter?

 

[imago]

VAT returns are done monthly.

 

[sythai]

VAT returns are done monthly.

Have to give my vat stuff to accountant every quarter?

 

[imago]

OK, perhaps I should have said can instead of are. Unless you turn over more than £1.35 million?

I'll be doing mine monthly online, sod waiting for three months!

 

[sythai]

Unless you turn over more than £1.35 million!

Not just yet:44:

Understand now thank you.....

 

[Snapester]

Im getting close............ naaattt!!

 

[Snapester]

Do many of you guys not charge the VAT on materials to the customer to cut prices back?

 

[sythai]

Do many of you guys not charge the VAT on materials to the customer to cut prices back?

Nop just kept prices exactly the same an added on the 20% vat..... then you bonus out of it whenb you do your vat return, you get the 20% back not the customer - seems fair to me

 

[Cbigfoot]

OK, perhaps I should have said can instead of are. Unless you turn over more than £1.35 million?

I'll be doing mine monthly online, sod waiting for three months!

You are not out of pocket. If you pay VAT on the materials, which you always have by the way, and you charge it, and charge vat on the labour, you are holding the VAT money to pay up to the HMRC. Therefore it increases your cash flow, and can help you as long as you remember not to spend it!!