What happens if:
You start up a company and business is booming immediately. You previously thought you wouldn't hit the vat threshold so had no plans for VAT.
But now, because of business being so good there is also an opportunity to invest in some "plant & machinery".
So VAT is looking like an excellent option as the plant is pretty expensive!
But what happens to the invoices you have charged in the past 23 days? - i'd rather not lose 20% off them as the price was based on there not being VAT !
Clear as mud?
Thanks.
You start up a company and business is booming immediately. You previously thought you wouldn't hit the vat threshold so had no plans for VAT.
But now, because of business being so good there is also an opportunity to invest in some "plant & machinery".
So VAT is looking like an excellent option as the plant is pretty expensive!
But what happens to the invoices you have charged in the past 23 days? - i'd rather not lose 20% off them as the price was based on there not being VAT !
Clear as mud?
Thanks.
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