VAT registration slowing me down

[css_jay99]

Hi guys, I registered online (4 weeks ago) for VAT and have not heared anything.

I would like to know when i can start charging or invoicing my Agency for the VAT element ?


cheers

css_jay99

[Ardesco]

You can invoice for VAT when you are VAT registered and not before. There is always the possiblity your application could be refused and if so the person paying VAT to you would be out of pocket.

Inovice without VAT now and as soon as you get you VAT Cert send off a VAT invoice for all VAT owed, simple

[css_jay99]

Inovice without VAT now and as soon as you get you VAT Cert send off a VAT invoice for all VAT owed, simple

When i get the VAT cert, do I have to send VAT invoices from when i sent the application or can I for simplicity just start billing VAT from when I receive the cert?

cheers

css_jay99

[Ardesco]

You invoice for VAT from the date stated on your VAT certificate. So if your VAT certificate says it is valid from 1 May 2007 you work out VAT for all the invoices you have charged since 1 May 2007 and send an invoice off to the agency for that amount.

[css_jay99]

cheers,

since I am now puting all my invoices via Ltd co. I have gone over the threshold. Assuming i get no reply back from the VAT man for another couple of months, would there be any penalties.... afterall, I have submitted an apllication

cheers

css_jay99

[Ardesco]

threshold ?

[oraclesmith]

The annual turnover threshold above which you must register for VAT. It's about £60k

[Ardesco]

Oh that.

Nope, as soon as you get the certificate you will be paying him VAT anyway and you can't collect it until you have the cert.

Don't worry about it, as anal as he is the VAT man isn't stupid (It's Hector who doesn't have common sense)

[css_jay99]

cheers guys,

sorry about the questions,

I bill agency weekly, and would be going for the flat rate scheme

1) when would i have to pay the VAT portion to HMRC ?, is it when agency pays me or when I invoice ?
2) how often do i pay HMRC, monthly, quaterly , Haphazardly..., end of the year ! ?

3) Is it safe to assume that apart from the little doh you make on what you give back to HMRC that you also generate a few bob in interest for the whole year

4) Unrelated question -- can any one recomend a self assessment/tax return software on the market ?



cheers css_jay99

[Bluebird]

cheers guys,

sorry about the questions,

I bill agency weekly, and would be going for the flat rate scheme

1) when would i have to pay the VAT portion to HMRC ?, is it when agency pays me or when I invoice ?
2) how often do i pay HMRC, monthly, quaterly , Haphazardly..., end of the year ! ?

3) Is it safe to assume that apart from the little doh you make on what you give back to HMRC that you also generate a few bob in interest for the whole year

4) Unrelated question -- can any one recomend a self assessment/tax return software on the market ?



cheers css_jay99

1. VAT is normally a quarterly return.
2. isn't that the same question as 1 ?
3. yes, but don't forget you show that as profit and is therefore subject to Corp Tax.
4. HMRC