Hello,
I do hope someone can help me!!
I have just recently been informed from my accountant that I must now become VAT REG as I have passed the threshold. I am a sole trader in the flooring industry, I passed the current threshold by £28K from August 2014 but was unaware of this? So as it stands I currently owe and est £10K in VAT!! (oops)
I am in need of some help/advice/ideas how to deal with this. I was thinking that maybe I could ask my current contractors if they would be happy to make back dated payments just for the VAT on their invoices as most of them are VAT REG. Would that be a reasonable request?
Am open to Ideas,
I do hope someone can help me!!
I have just recently been informed from my accountant that I must now become VAT REG as I have passed the threshold. I am a sole trader in the flooring industry, I passed the current threshold by £28K from August 2014 but was unaware of this? So as it stands I currently owe and est £10K in VAT!! (oops)
I am in need of some help/advice/ideas how to deal with this. I was thinking that maybe I could ask my current contractors if they would be happy to make back dated payments just for the VAT on their invoices as most of them are VAT REG. Would that be a reasonable request?
Am open to Ideas,
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