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The often used phrase "With Respect" means anything but respect, I am not confusing anything, you need a good accountant.
Discuss is anybody a self employed electrician not under a scheme? in the UK Electrical Forum area at ElectriciansForums.net
The often used phrase "With Respect" means anything but respect, I am not confusing anything, you need a good accountant.
Yes you are confused. Having a good accountant is not helpful if you don't understand what he tells you, or if you ask the wrong question I've had many occasions over the years where someone has "sworn blind" that some fact or other is true - while in fact what they are saying may be true, but not in the context of the discussion because it was the answer to a different questionI am not confusing anything, you need a good accountant.
But if you aren't VAT registered, you simply claim back the VAT inclusive price. See above, zero difference unless you hit the limit for AIA.Yes of course you can, but being VAT registered all of those items have another 20% you claim back.
Given that this was a direct response to the question of being VAT registered, it was misleading to the point of being "wrong". Not one item you list as a benefit of being registered (by inference from the context, VAT registered) is reliant on being VAT registered.But being registered as a Sole Trader you can right down the depreciation of your equipment each year against your TAX, you can also claim a proportion of your housing tax against the room you use as your trading place of business, it really is a win win situation being voluntarily registered, I am always surprised by how many people do not understand the tax rules that we operate under.
Reply to is anybody a self employed electrician not under a scheme? in the UK Electrical Forum area at ElectriciansForums.net
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