VAT

[BrilloPad]

Proof yet again that people don't understand statistics.

Hopefully this thread will be moved to general.

[SueEllen]

ha ha ha. What was unfair about signing up to the FRS? It made perfect sense for all concerned to simplify the VAT process. Indeed that's the reason they created the thing in the first place.

It was agents making up tonnes of two person limited companies with directors in places like the Philippines to put workers through to get the employment allowance plus the bit of money from the flat rate scheme that meant the government clamped down on us all.

[oliverson]

That's cos people like you took unfair advantage of it!

ha ha ha. What was unfair about signing up to the FRS? It made perfect sense for all concerned to simplify the VAT process. Indeed that's the reason they created the thing in the first place.

[SueEllen]

Technically very true but it's something grown accustomed to the last 13 years. Always was an agreement that satisfied both parties. Less admin for all, streamline the process and a little sweetener for the Ltd, but sadly no more.

That's cos people like you took unfair advantage of it!

[oliverson]

It was never your money to start with! It's just on your horse on the money-go-round for a few months until it moves on.

Technically very true but it's something grown accustomed to the last 13 years. Always was an agreement that satisfied both parties. Less admin for all, streamline the process and a little sweetener for the Ltd, but sadly no more.

[Pherlopolus]

It was never your money to start with! It's just on your horse on the money-go-round for a few months until it moves on.

[oliverson]

As contractors we all like to make a bit of money, but this quarter, a stellar quarter btw, combined with the new FRS rates, I've found that the digits of my vat bill are in parity with those of my VAT registration number. This can't be right! Shame on you HMRC.