Voluntary VAT

[stanhope4]

Hi,

I contract through my own limited company, my partner's mum does all of the financial side of the company.

I was wondering if it it worth me registering for Voluntary VAT? The reason i ask is i will possibly be looking for a new car and thinking about a business lease?

As i'm new to this i wondered if this is a good thing to do?

All help would be greatfully recieved.

Thanks

[PAG]

Hi,

I contract through my own limited company, my partner's mum does all of the financial side of the company.

I was wondering if it it worth me registering for Voluntary VAT? The reason i ask is i will possibly be looking for a new car and thinking about a business lease?

As i'm new to this i wondered if this is a good thing to do?

All help would be greatfully recieved.

Thanks

For a start you will benefit from the flat rate scheme !! That is if you have more outbound VAT.

[Flat Eric]

I always thought that the additional car tax is far outweighed the savings you'd make on VAT by leasing the car through your company rather than buying it personally.

However, IANAE...

[FarmerPalmer]

Not sure of the benefits of car rental ....

However, I'd have thought that you should definitely register for VAT, and get on the flat rate scheme - you add 17.5% to your invoice and pay 12-13% back to revenue & customs and pocket the rest - with a minimum of paperwork.