Carlalouise
Well-Known Member
In January, after trying so hard not to, we have ended up having to be VAT registered. I don't know about anyone else but for me as a small business it's going to cripple us as to keep in line with other salons (who are not registered) we just can't put our prices up, so this money will be coming out of our small amount of profit!! All our big outgoings such as rent and wages do not have VAT so we cannot claim back on these and now the flat rate scheme has gone up there doesn't seem to be any point in doing this.
My accountant has been of very little help, he just kept telling me to not go over, cut days and hours down, don't take anymore clients on, as he's seen small business's go under due to their success!! What is the point of having a business and not growing it??
Any advice from any of you lovely salon owners on how you got over this hurdle, would be much appreciated, for me at the moment the whole system seems so unfair as everyone knows your profit and turnover, which is what they go on is completely different.
I am determined to make a good profitable business which I and my staff are proud of but I also need a wage and don't want to be doing all of this to pay the tax man everything
My accountant has been of very little help, he just kept telling me to not go over, cut days and hours down, don't take anymore clients on, as he's seen small business's go under due to their success!! What is the point of having a business and not growing it??
Any advice from any of you lovely salon owners on how you got over this hurdle, would be much appreciated, for me at the moment the whole system seems so unfair as everyone knows your profit and turnover, which is what they go on is completely different.
I am determined to make a good profitable business which I and my staff are proud of but I also need a wage and don't want to be doing all of this to pay the tax man everything