Re: Claiming VAT back on fuel bills...

Adrian wrote:
> Mike G (metier@xxxxxxxxxxx) gurgled happily, sounding much like they
> were saying :
>
>> If you're self employed as a sole trader, or run a small business,
>> simply apply for VAT registration., but my advice would be to stay
>> clear of it. Over a certain turnover of course, it becomes compulsory
>> anyway. Dunno what the figure is at present, as it's some years since
>> I sold up my VAT reg'd business.
>> Unless your running costs are very high though, apart from that paid
>> on fuel, it'll be more hassle than it's worth.
>
> Compulsory vat reg threshold is roughly £60k turnover - or, to be more
> accurate, if any one quarter will go over 1/4 of the threshold you
> must register.
>
> If your customers are vat-reg businesses, it's silly not to register
> - it costs them no extra, and you instantly save the vat on
> everything you purchase.
>
> As for hassle - it's *nothing*. Once a quarter you pull up a report
> in your accounts package and copy four or five numbers onto a piece
> of paper and send some money away - money that you've been looking
> after for Gordon for a few months, and wouldn't have had if you
> weren't vat registered.
>
> Unless your customers are primarily domestic and you purchase very few
> vattable goods for your business, I cannot see why you wouldn't
> register.

Perhaps he feels it's his loyal duty to swell the Chancellor's coffers?


.

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