Originally posted by d000hg
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Anyone taking up the offer of a VAT deferment?
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Originally posted by Lance View Postas 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.Comment
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Originally posted by oilboil View PostI'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 itComment
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Originally posted by oilboil View PostI'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
You friends with scooter in real life or something?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by oilboil View PostI'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 itComment
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Originally posted by Andy Hallett View PostThis won't happen, they'll have enough of these with liquidations.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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I would say they'd do it on a future quarter if at all. Seems unlikely. Or maybe some CT relief.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by northernladuk View PostI 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.
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 meComment
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