Vat advice

[Blue Rose Bowl]

Hello

I am a student and I am doing some selling on ebay, I am buying a product from a shop, seperating the product and selling them in parts on ebay. As I have already paid VAT when I bought the item, do I need to pay VAT again when I sell the products on ebay?

Thanks.

 

[FreelanceSoftwareDeveloper]

You should register as self employed, a sole trader without registering for VAT.

You only need to register for VAT when you have a turnover above £67k, which I assume you wont working aprt time?

You don't need to worry then about VAT at all just buy and sell.

 

[David Griffiths]

You only need to pay VAT if you are VAT registered

You only need to register for VAT if your turnover is over £68,000 in any period of 12 months.

 

[SKINS]

I have started a new business this year and have some basic questions on Vat AND TAX - I sell mainly sevices and cosmetic products to the public :-

1) should I register for vat ( my sales are less than 50k) ?
2) How can I claim back the vat on equipment and products stock that I have bought for the start up of the business ?
3) Can I claim back vat on non vat registered invoices for the premises?
4) any advise would be helpful ?


many thanks

 

[Blue Rose Bowl]

Ok thanks, just made a silly mistake for some reason I assumed that the "final value fee" being charged was VAT.