Originally posted by TheCyclingProgrammer
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Reply to: Plus VAT or not plus VAT?
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Previously on "Plus VAT or not plus VAT?"
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Originally posted by tractor View PostIf you are VAT registered (or intend to be) and the contract does not mention VAT you really should demand an amendment to state rate + VAT. An addition I always add in is 'at the prevailing rate' to cover any potential change during negotiations and before first supply. May not seem like a big deal until you consider the number of times it changed recently.
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If you are VAT registered (or intend to be) and the contract does not mention VAT you really should demand an amendment to state rate + VAT. An addition I always add in is 'at the prevailing rate' to cover any potential change during negotiations and before first supply. May not seem like a big deal until you consider the number of times it changed recently.
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I would always take rates to be quoted as ex. VAT however I would always try and ensure any contract/schedule/agreement is explicit as it saves potential hassle later on.
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Originally posted by prozak View Post1. All rates are quoted as ex-vat. This is standard procedure for any B2B transaction in the UK.
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Originally posted by prozak View Post1. All rates are quoted as ex-vat. This is standard procedure for any B2B transaction in the UK.
2. I personally delayed my invoices by a few weeks and then sent them all in with VAT added.
If the contract does not specify whether the rate includes VAT or not, I would expect that under contra proferentem you would win if you sued for the difference, but IANAL.
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Originally posted by Ltd View PostOK, how much do you take home?
And how someone else runs their business shouldn't really impact on how you run yours.
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Originally posted by Ltd View PostOK, how much do you take home?
Many people will opt to build a warchest and take no more than the higher rate limit (once all income is factored). In that context, a % is meaningless.
Perhaps this is what you're after, but note the assumptions (and don't get confused by the expenses element, as YourCo ultimately pays these):
https://www.nixonwilliams.com/net_pay_calculator.asp
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Originally posted by Ltd View PostMany thanks to everyone replied. Sorry, it looks like my question was poorly worded or at least misunderstood. I think I need to split it into two:
1. If there is a contract advertised to pay £600 a day and nothing is said about VAT, does it normally mean that VAT is included into the rate or does it mean contractor will find £600+VAT in his account for each day? (once VAT registered)
2. What to do while VAT registration pending? - this one is clear.
1. All rates are quoted as ex-vat. This is standard procedure for any B2B transaction in the UK.
2. I personally delayed my invoices by a few weeks and then sent them all in with VAT added.
Leave a comment:
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Many thanks to everyone replied. Sorry, it looks like my question was poorly worded or at least misunderstood. I think I need to split it into two:
1. If there is a contract advertised to pay £600 a day and nothing is said about VAT, does it normally mean that VAT is included into the rate or does it mean contractor will find £600+VAT in his account for each day? (once VAT registered)
2. What to do while VAT registration pending? - this one is clear.
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Originally posted by tractor View PostI told you before, when you are in a hole, you should stop digging. You are simply proving the correctness of Tykemerc's statement below.
Selective quotation indeed. Right/wrong, correct/incorrect are binary.
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Originally posted by malvolio View PostLOL yourself. How about
Selective quotation is such fun, isn't it...
Selective quotation indeed. Right/wrong, correct/incorrect are binary.
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