Daily Rate (plus VAT)

[turbo]

I though you pay 13% of the £117.50 - £15.28, not of the £100. Is that correct or not?

That's correct.

turbo

[MrRobin]

I though you pay 13% of the £117.50 - £15.28, not of the £100. Is that correct or not?

Yes that is correct - the net difference is not 4.5% but 2.2% (or 3.4% in first year due to reduced rate of 12%)

[malvolio]

Fascinatingly detailed and absolutely correct all this talk of marginal rates and recoveries may be, but it might be worth noting the OP doesn't even understand what VAT is...

[Old Greg]

Fascinatingly detailed and absolutely correct all this talk of marginal rates and recoveries may be, but it might be worth noting the OP doesn't even understand what VAT is...

We all had to learn somehow.

[scooterscot]

Say what happens if the VAT man never requests VAT?

[Old Greg]

Say what happens if the VAT man never requests VAT?

You're allowed to keep it, but ONLY if you transfer it to a foreign account, outside the EU.

[scooterscot]

I actually have to hassle the VAT man, they hardly ever see a bill, it's like I don't exist...

[Bluebird]

Say what happens if the VAT man never requests VAT?

they don't request - you have do declare - failure to do so in a taggable offence

[ASB]

I actually have to hassle the VAT man, they hardly ever see a bill, it's like I don't exist...

When you see bills you are well and truly on the radar.