grahamc Posted April 1, 2014 Share Posted April 1, 2014 Good see a lot of self-employee'ds.... missus has just done all this, I dont look at the final figure - since I just convert to car parts wheels I cant have, turbo I cant have...... 1 Quote Link to comment Share on other sites More sharing options...
Chesterfield Posted April 1, 2014 Share Posted April 1, 2014 The Vat is fun too. Its just like being a collection agency for HMRC but without getting paid for the job. Then theres the bit where you cant do cash accounting anymore, so you have to account for the money being yours at the moment of invoice, regardless of whether the money has physically come in or not. It means if somebody takes more than 3 months to pay, then you get to pay HMRC the value of the VAT on your invoice, regardless of whether you have been paid or not. Its a right barrel of laughs Husky - give it a whirl. Is Flat Rate Vat not an option? That way you get a little (sometimes) for doing The Man's Job for him. Only available on VAT taxable turnover up to £150k, so not applicable to us unfortunately. Quote Link to comment Share on other sites More sharing options...
docwra Posted April 1, 2014 Share Posted April 1, 2014 Its a right barrel of laughs Husky - give it a whirl. Ive got a better one for you - we are a recruitment company and operate reverse charge on overseas VAT so Im also paying out before I get it back in, but my favourite is when I pay expenses, despite no-one making any profit on the expenses I have to pay onward VAT and then wait for it to come back. HMRC, Y U DO THIS?? Quote Link to comment Share on other sites More sharing options...
Jaz 350z Posted April 1, 2014 Share Posted April 1, 2014 Lol... HMRC do know exactly how to do things to achieve nothing other than making our lives more difficult... FYI, I couldnt for the life of my get the CT600 to work on my Linux box.... good job I have others. Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted April 1, 2014 Share Posted April 1, 2014 (edited) but my favourite is when I pay expenses, despite no-one making any profit on the expenses I have to pay onward VAT and then wait for it to come back. HMRC, Y U DO THIS?? Ive wondered that too! I have to do the same if a customer wants to pay for me to visit them and i buy the flights / pay for the costs. I have to add VAT to the invoice I send to the client. God knows why. Edited April 1, 2014 by rabbitstew Quote Link to comment Share on other sites More sharing options...
Flex Posted April 1, 2014 Share Posted April 1, 2014 Its because you're not the airline provider, you're just reclaiming an expense. Neither party losses out so its irrelevant anyway, just like most vat bollocks. Quote Link to comment Share on other sites More sharing options...
Sarnie Posted April 1, 2014 Share Posted April 1, 2014 If you're paying tax, your making profit, so stop moaning!! Quote Link to comment Share on other sites More sharing options...
Stutopia Posted April 1, 2014 Share Posted April 1, 2014 If you're paying tax, your making profit, so stop moaning!! That's true or we don't have a small army of amazon tax accountants. Quote Link to comment Share on other sites More sharing options...
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