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Hi Guys sorry i have just been doing some sums to work out by best options for VAT Im torn between the fixed rate and the standard rate scheme... please confirm my workings out as to me it seems that the fixed rate scheme would be much better for me currently unless ive got it completely wrong...
Thanks for the replies guys, yes I understand it allot more now. I could not get my head around the calculation! i assumed i could just deduct 20% from my total cost price and that would be the VAT paid but its just the net total isn't it what i deduct from before the VAT is added
Hi there, Thanks allot for your reply.
yes thats correct I deducted 20% from the example retail price because I would like to keep my retail prices the same when VAT Registered to maintain my competitive advantage against leading retailers (Im aware this will reduce my mark up percentage) in...
Hi guys, I’ve submitted a few posts in this forum over the years and have always had great advise, I’ve reached another little pot hole on my venture so thought I’d seek some more advise as I’m sure it’s a topic which will be familiar to many and may help others too
It’s the Catch 22, increased...
Hi Guys, I'm struggling to increase my website traffic, I have tried everything from changing meta tags, descriptions to ads across social media. Although the majority of my traffic does come from these social media campaigns I feel like I am missing out on a much larger audience due to my...
HI guys thanks for all the responses, appreciate it. Yes I have looked into these third party companies but many require a minimum turnover which far exceeds me at the moment, divido for example require 250k minimum.
Regarding payment plans yes I have considered this also but I find for the...
Is my calculation correct as to how I work out my VAT return, From what I have researched it seems I can only claim back on the import VAT which usually works out at about £1200 for the shipments I carry out. I believe I only have to pay the difference of VAT back to the hmrc? with this in mind...
Hi, Thanks for all your info.
Yes that was my initial concern, i don't really want to increase my prices by the 20% because i would lose my competitive advantage and I don't think the products in question would move quickly at that price. I am looking to move my sales more towards the trade...
Hi Guys, Just after a little advise.
I run a business importing and distributing my own branded motocross bikes (www.motox1-atv.co.uk), It has recently come to my attention that due to not being vat registered I can not offer a viable trade price to my trade clients who wish to buy in bulk...