Registering for VAT

[AtW]

Is it a huge hassle to be VAT registered without necesserily having required turnover (I think IR encourages small firms to register in any case)?

The benefits are obvious - nice discount on stuff purchased, and the downside is low so long as its big (ie registered for VAT themselves) businesses contract/buy your services.

[DimPrawn]

VAT is pretty easy. Registering is easy and the quarterly form is easy.

[AtW]

So its not a lot of added hassle (for poor accoutant should I say)?

[Troll]

So its not a lot of added hassle (for poor accoutant should I say)?

It gets you on HMCE radar which is best avoided if possible.

[AtW]

It gets you on HMCE radar which is best avoided if possible.

Yes thats what I am thinking, just feeling that its not worth to do it to save few hundred quid, only if benefit (payback of spend VAT) measured in many thousands.

[The Lone Gunman]

Are you telling me you dont meet the minimum income for compulsory VAT registration?

[AtW]

No, otherwise I would HAVE TO register. AFAIK IR is kind enough to let people register even if they dont meet standard, they ought to love people VAT registered because it will bring extra tax in.

[The Lone Gunman]

You poor poor pauper.......... what on earth are you playing at........... and what are you doing on a contractors forum?

[DaveB]

Get yourself registed and get on the Flat Rate Scheme. You charge VAT to clients at the normal rate but get a discount on what you pay to the VAT man. Can save get you a few hundred pounds a month extra in your pocket.

[AtW]

Lone: FOAD.

DaveB: yes VAT flat-rate scheme seems the main option, but I am now thinking its not worth it just now, perhaps in a few months.

I was just trying to find legal ways to reduce per unit price of some thing that I want to buy for business purposes