Qualatex Sempertex
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 Post subject: VAT etc. . .
PostPosted: Fri Jun 28, 2013 10:01 am 
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Joined: Thu Apr 25, 2013 2:51 pm
Posts: 43
I'm just in the process of setting up!

I'm planning on doing centrepieces as well as balloon modelling at kids parties. But how does that fit in with VAT - would I need to charge it on the centrepiece can I charge it as a sole trader or do I need to start up as a company?

Blargh at it all being so complicated!


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 Post subject: Re: VAT etc. . .
PostPosted: Fri Jun 28, 2013 10:40 am 
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Joined: Tue Mar 18, 2008 3:02 pm
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If you are starting up I would assume you do not need to pay VAT. You can volunteer to pay if you like or also pay a flat rate VAT as well which does help some.
It is only compulsory when you hit about £68,000. I think? But that is on buying in stock as well, best find yourself an accountant.

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 Post subject: Re: VAT etc. . .
PostPosted: Fri Jun 28, 2013 11:31 am 
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Joined: Fri May 16, 2008 10:58 pm
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Location: Essex
Hi are you in the UK?
if so I would go to your bank and ask to see the small business adviser its free, and you should get all the help you need re starting a business.

You have to turnover a lot before you get involved in VAT.

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 Post subject: Re: VAT etc. . .
PostPosted: Fri Jun 28, 2013 12:05 pm 
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Joined: Thu Apr 25, 2013 2:51 pm
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Great thanks guys :)


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 Post subject: Re: VAT etc. . .
PostPosted: Fri Jun 28, 2013 12:11 pm 
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Joined: Thu Apr 25, 2013 2:51 pm
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Just found a page detailing the VAT thresholds its now £79,000 - I'm not going to get close to that!! :)


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