Vat

[Xenophon]

I applied for FRS in March and am still waiting. My invoices say "VAT: Penfding" and I am about to leave this contract and start another. I've emailed my accountant asking if there is anything I should do, what are your thoughts Mav? Do I just invoice the 'old agency' in months to come when I get VAT registered?

First thing I would do would be to correct the typo on my invoices.

HTH

[malvolio]

I applied for FRS in March and am still waiting. My invoices say "VAT: Penfding" and I am about to leave this contract and start another. I've emailed my accountant asking if there is anything I should do, what are your thoughts Mav? Do I just invoice the 'old agency' in months to come when I get VAT registered?

If you've been invoicing with the note that VAT has been applied for, there won't be any problem re-invoicing the VAT in arrears and the agency should pay up - after all VAT, isn't their money, and they will have been putting VAT on their bill to your client.

Volutary or not, VAT is still mandatory if you are (or are about to be) registered.

[wizard1974uk]

First thing I would do would be to correct the typo on my invoices.

HTH

Sure it isn't just a typo in his post?

[Xenophon]

Sure it isn't just a typo in his post?

Probably.

[TheRightStuff]

If you've been invoicing with the note that VAT has been applied for, there won't be any problem re-invoicing the VAT in arrears and the agency should pay up - after all VAT, isn't their money, and they will have been putting VAT on their bill to your client.

Volutary or not, VAT is still mandatory if you are (or are about to be) registered.

I've have the same problem. Two invoices with no VAT added. Next to the VAT number i've put TBA. I've also e-mailed the agency telling them I will send them a 'VAT ONLY' invoice once I have been registered. Is that enough to cover it?

[youngguy]

Probably.

Need to put my fingers on a diet so that they hit one key rather than two )

[oraclesmith]

If you've been invoicing with the note that VAT has been applied for, there won't be any problem re-invoicing the VAT in arrears and the agency should pay up - after all VAT, isn't their money, and they will have been putting VAT on their bill to your client.

Volutary or not, VAT is still mandatory if you are (or are about to be) registered.

Ah, but the difference is in the registration date. If you've heard nothing from VAT about your date and you are voluntary, you have nothing to work on and you cannot actually collect the VAT until you have a date. They may not agree to your own date and may set your reg. date much later.

If you're going over the threshold, then you must collect the VAT for them and they should set the date to the 1st of the month after the month you exceeded the threshold.

[padinka]

Heard of GST?

XTC, this sounds like total BS. Apart from the percentage and starting thresholds, VAT is *exactly* the same as GST in Oz.

So, basically you tried to scam HMRC and now you find you can't get away with. Tough tulip.

Padinka

[XTC]

XTC, this sounds like total BS. Apart from the percentage and starting thresholds, VAT is *exactly* the same as GST in Oz.

So, basically you tried to scam HMRC and now you find you can't get away with. Tough tulip.

Padinka

Well you haven't read my posts. This isn't some scam that I haven't got away with. I haven't claimed any VAT so how can this be a scam. And I tried to register for VAT, but the bureaucratic process meant it has taken over 8 months. My accountant recommended that I not register for VAT, but speak to HMRC and strike a deal. Ignorance isn't an excuse, but I was told initially I didn't need to register for VAT and that's the advice I followed. If I now get hit with a big VAT bill that's my fault for not being pro-active and for being ignorant, I'll just have to deal with it. Don't jump to conclusions in future, there's a good boy.