• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.

Anyone taking up the offer of a VAT deferment?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #21
    Originally posted by d000hg View Post
    How many weeks does it take to start getting benefits?
    5 weeks

    Comment


      #22
      Originally posted by Lance View Post
      as a one man contractor it's not cashflow that should worry you. If you have insufficient cash you are more than likely insolvent.
      Holding on to VAT doesn't give you any rights to spend it so there's no advantage.

      If you're a real business with staff, rent, equipment lease, etc, then deferring VAT may be the difference between bankruptcy and not, but that is unlikely to be the case for a contractor.

      So pay the VAT as there's no benefit in not doing.
      I'd generally agree, but a good accounting friend suggested that there is a possibility that whilst its currently a deferral it could well be cancelled in the future - so in case they are correct I'm going to hold on to it

      Comment


        #23
        Originally posted by oilboil View Post
        I'd generally agree, but a good accounting friend suggested that there is a possibility that whilst its currently a deferral it could well be cancelled in the future - so in case they are correct I'm going to hold on to it
        Hmm...HMG is going to need every penny they can muster to cover the trillions they will end up spending. I can't see them forgiving debts somehow.

        Comment


          #24
          Originally posted by oilboil View Post
          I'd generally agree, but a good accounting friend suggested that there is a possibility that whilst its currently a deferral it could well be cancelled in the future - so in case they are correct I'm going to hold on to it
          Bearing in mind they pulled £34,231m Oct to Dec last year I very very much doubt they will be writing that off.

          You friends with scooter in real life or something?
          'CUK forum personality of 2011 - Winner - Yes really!!!!

          Comment


            #25
            Originally posted by oilboil View Post
            I'd generally agree, but a good accounting friend suggested that there is a possibility that whilst its currently a deferral it could well be cancelled in the future - so in case they are correct I'm going to hold on to it
            This won't happen, they'll have enough of these with liquidations.
            https://uk.linkedin.com/in/andyhallett

            Comment


              #26
              Originally posted by Andy Hallett View Post
              This won't happen, they'll have enough of these with liquidations.
              I assume what he must have meant was a good friend who does accounting. I can't see a good accountant firing a blank as big as that one.
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment


                #27
                I would say they'd do it on a future quarter if at all. Seems unlikely. Or maybe some CT relief.
                Originally posted by MaryPoppins
                I'd still not breastfeed a nazi
                Originally posted by vetran
                Urine is quite nourishing

                Comment


                  #28
                  Originally posted by northernladuk View Post
                  I assume what he must have meant was a good friend who does accounting. I can't see a good accountant firing a blank as big as that one.
                  Well the girl is an accountant of long standing but hey that doesn't matter as it doesn't match NLUK's view of the world so they must be wrong - "Golden Rule of CUK Forums"

                  Ultimately if they are wrong (and as I said they only suspected it) then I'm no worse off if I pay it at the end of the year, I they are correct then I don;t have to pay it

                  Seems like a no win no fee concept to me

                  Comment


                    #29
                    Paid mine , no point putting it off

                    Comment

                    Working...
                    X