Supermarkets don't do VAT receipts

[Turion]

At the moment, probably not.

But if you work your nuts off and do 48 weeks per year, your rate only needs to be £625 per day to exceed that threshold.

There are plenty in the City of London that get more than that. Especially Project Managers.

Fine, but would such a high earning person working their balls off really be worrying about the vat on a pot noodle and 6 pack from the Coop.

If one is really so concerned about claiming small change then buy a taxi receipt book and claim the odd fare. So much simpler me thinks.

[Friendly Accountant]

Limit

At the moment, probably not.

But if you work your nuts off and do 48 weeks per year, your rate only needs to be £625 per day to exceed that threshold.

There are plenty in the City of London that get more than that. Especially Project Managers.

I think the limit before you have to leave the scheme is £225k, so go ahead Gonzo, work your nuts off!!

[Andy2]

If one is really so concerned about claiming small change then buy a taxi receipt book and claim the odd fare. So much simpler me thinks.

Now how do I lay my hands on a taxi reciept book
any tips ?

[Gonzo]

Now how do I lay my hands on a taxi reciept book
any tips ?

You can buy them at Rymans.

Shhh. I didn't tell you that.

[Gonzo]

I think the limit before you have to leave the scheme is £225k, so go ahead Gonzo, work your nuts off!!

Point taken.

Annual turnover of £225k is £937.50 per day. I can count on the fingers of one hand the people I know on that sort of money. They do exist (although none of them work 240 days every year).

What I wanted to get across though was that a rate that was too high to be on the flat rate VAT scheme was not beyond the bounds of possibility.

[PayMatters]

Dinner at the Dog Inn in Over Peover is a jolly experience.

Additionally, the receipts labelled "Dog Inn" will give your accountant a wry smile as he processes your books.

Not as big a smile as when it used to be called The Gay Dog Inn!

[suityou01]

Not as big a smile as when it used to be called The Gay Dog!

I heard that too! Which means someone changed the name thinking it was an improvement.