VAT registration

[tim123]

I have been with a an umbrella up until now and have only had a Ltd for a week, my agency is 'self billing' so in the past I would fax a time sheet to my agency who would pay it to my umbrella and then the money would arrive minus deductions into my personal bank account.

Now I assume I will get the invoice emailed to me showing the money has been paid into business account and I should pass this on to my accountant so he can do the sums and advise me what I should pay myself split over PAYE and dividend, is this correct?

Should I just advise that the VAT is pending so they pay the full amount?

They still won't pay the full amount (unless they are stupid). You have to invoice for the VAT retrospectively when you get the registration. This is a normal process that the agency should be able to cope with.

tim

[Troll]

Cheers for the reply, so how do I go about telling the VATman to stop being so nosey and just give me a feckin' VAT number?

I have applied for VAT registration in the normal way but my accountant warned me this would happen if I didn't provide proof of trade when I applied and now its just delaying the process.

I'm also having trouble getting a VAT reg for my new company - new b0llocks to try and prevent the carousel scams - doesn't matter that I have run 4 companies over 15 years all with VAT registered and never a problem.
The ar5eholes are advising a 12 week delay...twelve weeks to do background checks

[gingerjedi]

Rule 1 - Do NOT piss around with the VATman. They are actually honest and competent (unlike most of the Hectors on the other side of HMRC) and carry a big stick. Send them a copy of the agency contract schedule with the end client's name removed, you don't need to include all the subsidary detailed clauses - all they need to see is proof of a contract between YourCo and the Agency

Thanks for that, it’s the sort of answer I wanted to hear as I didn't want to volunteer unnecessary information to the taxman no mater which department he works for

They are asking for specific info on what I actually do, should I say something like "***** IT Services ltd provide knowledge based support to both the public and private sectors" or should I be more specific?

[malvolio]

Rule 1 - Do NOT piss around with the VATman. They are actually honest and competent (unlike most of the Hectors on the other side of HMRC) and carry a big stick. Send them a copy of the agency contract schedule with the end client's name removed, you don't need to include all the subsidary detailed clauses - all they need to see is proof of a contract between YourCo and the Agency

[gingerjedi]

There is nothing to say that you MUST have a contract in place to trade. Most people do but they are not nessecary.

Cheers for the reply, so how do I go about telling the VATman to stop being so nosey and just give me a feckin' VAT number?

I have applied for VAT registration in the normal way but my accountant warned me this would happen if I didn't provide proof of trade when I applied and now its just delaying the process.

[Sockpuppet]

I just got a letter from the VATman asking for further details about my business as I didn't have a contract to prove 'intent to trade' at the time of applying, is it just a formality or should I be careful what I write?

I do now have a contract but I am a bit worried about forwarding it to the VATman for obvious reasons!

Just send him a reciept that you want to claim the vat back from and an invoice with services you want to charge on.

There is nothing to say that you MUST have a contract in place to trade. Most people do but they are not nessecary.

[gingerjedi]

nope, you just issue an invoice with VAT Registration pending at the bottom of it. When you get your VAT number, you then issue another invoice for the outstanding VAT.

I have been with a an umbrella up until now and have only had a Ltd for a week, my agency is 'self billing' so in the past I would fax a time sheet to my agency who would pay it to my umbrella and then the money would arrive minus deductions into my personal bank account.

Now I assume I will get the invoice emailed to me showing the money has been paid into business account and I should pass this on to my accountant so he can do the sums and advise me what I should pay myself split over PAYE and dividend, is this correct?

Should I just advise that the VAT is pending so they pay the full amount?

[gingerjedi]

I just got a letter from the VATman asking for further details about my business as I didn't have a contract to prove 'intent to trade' at the time of applying, is it just a formality or should I be careful what I write?

I do now have a contract but I am a bit worried about forwarding it to the VATman for obvious reasons!

[despot]

depending on your circumstances, make sure you go flat rate as it can leave a few extra shillings in your bank account!!

http://customs.hmrc.gov.uk/channelsP...00345#P52_5004

[reginald]

6 weeks is unrealistic. I applied in mid January and am still waiting for my registration. I've submitted a couple of invoices with VAT pending and they have been paid no problems.

[XLMonkey]

nope, you just issue an invoice with VAT Registration pending at the bottom of it. When you get your VAT number, you then issue another invoice for the outstanding VAT.

[marc9477]

Hi,

I created my Limited Company last week, and start my first contract on Thursday. I was told by my accountant that there is currently an approximate 6 week wait to get my company registered for VAT. Does this mean that I won't be able to invoice my client until this registration is complete?

thanks