Should I register for VAT?

[Beauty-Box]

Im so confused with vat registration. If your a business you can register to reclaim VAT. But I need to charge my clients VAT?? Ahhh so confusing I just work from a summerhouse should I leave VAT registration?

Xxx

Sent from my GT-I9505 using SalonGeek mobile app

 

[Ncc83]

I've always been advised against registering for vat by my accountant, unless your way over the threshold. Although it would be nice to claim the vat back on orders etc, you have to either add the 20% on to your clients bill, or take it out of your profits.

 

[Steph86]

You have to register for VAT when your turnover reaches a certain threshold... Think thats around £70k until then I wouldn't worry about it xx

 

[LAPirate]

Im so confused with vat registration. If your a business you can register to reclaim VAT. But I need to charge my clients VAT?? Ahhh so confusing I just work from a summerhouse should I leave VAT registration?

Xxx

Sent from my GT-I9505 using SalonGeek mobile app

Have you reached the VAT threshold? If so it's compulsory.... If you haven't why would you.. For most salons vat charged usuall far outways any reclaimed... Can you tell us more ?

 

[twid]

My parents business was VAT registered and although there were benefits most of the time it was a pain in the neck. So much record taking and form filling, much more expensive with the Accountant and my Mum was always in a state of worry in case she got something wrong and then had a visit from the VAT man!

As said before if you're over the threshold then its compulsory and your account will tell you but if not then forget about it.

Karaxxx

 

[justpampered]

Don't do it! Obviously if you reach the threshold you have to but do not register voluntarily thinking it will be worthwhile to claim back on products. As we are predominantly service industry it is hard to purchase enough product and other expenses to justify the reclaim because cost of product per treatment is far less than say labour, leaving you with a big bill every quarter which leads to putting prices up or lowering your profits. Just my 2pence worth x x

Sent from my GT-I9195 using SalonGeek mobile app

 

[Beauty-Box]

Phew thank god the form itself was stressing me out. A woman from google had mentioned it and I thought I had to register. Thanks very much huge stress off lifted xxx

Sent from my GT-I9505 using SalonGeek mobile app

 

[BannerPenguin]

Phew thank god the form itself was stressing me out. A woman from google had mentioned it and I thought I had to register. Thanks very much huge stress off lifted xxx

Sent from my GT-I9505 using SalonGeek mobile app

A women from google? Did you call them or did you place an Adwords campaign? Because if not then she isn't from google

 

[TherapyRoom]

Im so confused with vat registration. If your a business you can register to reclaim VAT. But I need to charge my clients VAT?? Ahhh so confusing I just work from a summerhouse should I leave VAT registration?

Xxx

Sent from my GT-I9505 using SalonGeek mobile app

I've just registered myself, reluctantly. It is compulsory if you're over the £77k threshold. I'm dreading what happens next with regards to all the accounts and the impending bills...

 

[evie168]

I've been looking into this myself and I believe the threshold is £81000. The gentleman I spoke to at hrmc said you'll also need to submit paperwork quartely and takes about 3 weeks until you get your vat number. Then you'll have to consider output vs input tax and so you may be paying hrmc vat rather than claiming it. By the end he was telling me is not worth it. HaHa.

 

[jujojones]

Unless you reach the threshold dont do it!!!! my husband has to be vat registered and it's a pain in the ass!

Do you have an accountant!? If not speak to one about it x

 

[persianista]

Do everything you can to avoid it, failing that, you need to push your turnover up to 130k to get the same level of profit you were before vat registering.
It penalises the service industries as our biggest cost is labour, which can't be offset. Across the rest of the EU, vat on personal services is 5% in recognition of this. Only rip off Britain sets it at 20%, and the VAT people are like the mafia.

 

[KGsalon]

We are vat registered and it's a joke!!! Hate it.
Don't do less you have too. X

 

[Divine h & b]

Unless you are near the threshold don't do it we are in the service industry therefor you would be giving the vat man 20% of your takings when you can only claim it back for what you purchase.

My dad is an accountant he told me when we get close to register the beauty side of the salon in my partners name so basically it's 2 business'.

 

[lynn amber]

If I ever got near the threshold (which I won't) I would work less to stay under it

Sent from my LT30p using SalonGeek mobile app

 

[zigojacko]

I echo many of the above comments, in certain professions, it's only really worth registering for VAT if you are about to cross the threshold (which is currently £79k).

I recently wrote an introduction to VAT at AccountingWEB which would prove a great starter point for new businesses to VAT.

 

[JemimaFox]

This depresses me, I have been VAT registered for most of my time in business and it breaks my heart to give such a hefty sum of money away every 3 months.
It's like we are being punished for succeeding.
I actually wrote to David Cameron about it lol, without a lot of success
Not faaaiirrrr!

 

[KGsalon]

This depresses me, I have been VAT registered for most of my time in business and it breaks my heart to give such a hefty sum of money away every 3 months.
It's like we are being punished for succeeding.
I actually wrote to David Cameron about it lol, without a lot of success
Not faaaiirrrr!

I know! Exacly how I feel. Something needs to be done.