VAT question

[gingerjedi]

You are all missing the point of registering for VAT.

By registering you are actually signing up as an employee of Gordon Brown and declaring that you will act as his agent in the collection of tax from your customers.

Don't sign up! Don't join the dark side!

Give a feck, if my accountant says I'll be better off by £1500 PA then I will sign up!

But due to my circumstances I wont be claiming hardly any expenses, now even though this is good news for HRMC will it look bad for IR35 from a 'proper business' point of view?

[Ruprect]

No he isnt correct, Denny has hit the nail on the head though.

I would be better off ouside the FRS, maybe you wouldnt.

As for you Ruprect, would it be possible for you to make your point to me without the insults. Pretty please

EO, I don't believe I insulted you, just pointed out that what you said was balls.

HTH

[Swamp Thing]

However, that is not all saving, the balance goes against gross profits, so you pay 19/20/21/22% (delete as applicable) against it.

Ohhh alright then Malvolio. So to take my example of £2,225 in your pocket, this becomes £1,780 in the 2007-08 corporation tax year. It’s still £1.7K! HMRC robs from us any way it can; we owe it to ourselves to mitigate, goddammit!! (I’m still fuming from Gordo’s latest budget).

[Euro-commuter]

I would be better off outside the FRS, maybe you wouldnt.

No-one disagreed with that, they disagreed with where you said "you lose the chance to claim expenses".

And you DID say that, and it IS bollocks.