Vat

[Gonzo]

Very basic newbie question. When I bill the agents do I add VAT on?

I won't hit the limit for yearly turnover but was going to register for VAT to claim back biz expenses. As such I then need to add this to all bills but my concern is the agent agreed the amount of x but not x + 17.5%

M

Here's a link to where we did this last week.

http://forums.contractoruk.com/accou...tered-yet.html

hth

[MikeC1408]

Very basic newbie question. When I bill the agents do I add VAT on?

I won't hit the limit for yearly turnover but was going to register for VAT to claim back biz expenses. As such I then need to add this to all bills but my concern is the agent agreed the amount of x but not x + 17.5%

M

You won't be able to claim VAT until you have a registration number which can take up to 4 months at the moment. Once registered you will have to pay the VAT man whether you hit the magical figure or not, you don't get to keep the 17.5%

Rates normally, unless indicated, don't include VAT so can be added, if you have a registration number (Agent will ask for proof). If you are registering just insure that your invoice says 'VAT Registration Pending' and let the agent know you'll issue a seperate invoice to cover VAT when you receive your certificate.

[Mr Maginka]

Very basic newbie question. When I bill the agents do I add VAT on?

I won't hit the limit for yearly turnover but was going to register for VAT to claim back biz expenses. As such I then need to add this to all bills but my concern is the agent agreed the amount of x but not x + 17.5%

M