News0 min ago
voluntary VAT
6 Answers
I want to set up a courier business as a sole trader.I have already got a van.The main expense will be fuel.The burning question is will I be better off with voluntary VAT registration,or is that a minefield of problems?.Anybody any ideas....Cheers
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.If most of your customers are businesses they don't care about you charging them VAT on your services - they just get it back. Reverse is true of domestic customers.
As you know, being VAT registered enables you to get back the VAT on the fuel - only you can work out what proprtion of your variable costs are fuel, and hence the saving.
I've been through the process of being VAT-registered early this year (for the first time). Found it relatively painless.
As you know, being VAT registered enables you to get back the VAT on the fuel - only you can work out what proprtion of your variable costs are fuel, and hence the saving.
I've been through the process of being VAT-registered early this year (for the first time). Found it relatively painless.
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