With VAT likely to go up to 20% lije a lot of businesses, Im thinking of simplifying my business so that I keep just below the VAT threshold. Im thinking of de registering for VAT
The one issue I may need to do is avoid buying/selling print through my own invoices to keep my turnover just below £70000 within my business (which is only me anyway so be easy)
Although Id been VAT registered for about ten years, my turnover has gone down from about £92000 to only about £50000 last year so in terms of turnover I can de register now
I dont imagine any of my customers will care at all either, and I can increase my fees by 20% as half my customers arent VAT registered too which should still keep me just below the VAT threshold if Im carefull not to do too much work
I hadnt been doing any print reselling in last year or two at all but next year as Id only been doing websites, but I have some existing customers who proberbly want a small amount of print later this year, maybe £15 to 20K or so of printing, and I can see if I resell print by the time my fees go up by 20% Ild go just over the VAT threshold
In the past Ive used RCS for print who were great, but of course I have to pay them directly from my account which I want to avoid so I can lower my overall turnover so I can deregister for VAT .
I wonder if anyone knows of any similar quality and priced companies to RCS who can invoice my customers directly from their company (in advance when I tell them details ) and pay me a decent commision instead of me buying and selling ? Or maybe a print buying co operative or group of some kind who can do this for me ? Or possibly a third party invoicing company of some kind?
Of course I want to keep completly legal with the tax man but it seems a shame that just for maybe 5k profit on print the total of that extra £15k of turnover would push me just over the VAT threshold, whilst I can see by raising my fees by 20% would be worth £10k extra profit ....plus the joy of never filling in VAT again!!
Anyone have any sugestions of suitable companies i can use so I only get the profit on print without the turnover ?
The one issue I may need to do is avoid buying/selling print through my own invoices to keep my turnover just below £70000 within my business (which is only me anyway so be easy)
Although Id been VAT registered for about ten years, my turnover has gone down from about £92000 to only about £50000 last year so in terms of turnover I can de register now
I dont imagine any of my customers will care at all either, and I can increase my fees by 20% as half my customers arent VAT registered too which should still keep me just below the VAT threshold if Im carefull not to do too much work
I hadnt been doing any print reselling in last year or two at all but next year as Id only been doing websites, but I have some existing customers who proberbly want a small amount of print later this year, maybe £15 to 20K or so of printing, and I can see if I resell print by the time my fees go up by 20% Ild go just over the VAT threshold
In the past Ive used RCS for print who were great, but of course I have to pay them directly from my account which I want to avoid so I can lower my overall turnover so I can deregister for VAT .
I wonder if anyone knows of any similar quality and priced companies to RCS who can invoice my customers directly from their company (in advance when I tell them details ) and pay me a decent commision instead of me buying and selling ? Or maybe a print buying co operative or group of some kind who can do this for me ? Or possibly a third party invoicing company of some kind?
Of course I want to keep completly legal with the tax man but it seems a shame that just for maybe 5k profit on print the total of that extra £15k of turnover would push me just over the VAT threshold, whilst I can see by raising my fees by 20% would be worth £10k extra profit ....plus the joy of never filling in VAT again!!
Anyone have any sugestions of suitable companies i can use so I only get the profit on print without the turnover ?