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Author Topic: VAT?  (Read 1270 times)

Offline Graham

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VAT?
« on: July 08, 2011, 04:52:36 PM »
  Hi Gang.
               I've flogged a licence to use one of my Gigpics.
               In my original corrispondance I explained that I am not vat registerd, and so will not be able to supply a vat receipt.
               I've just received the fee agreed +Vat, with a request for a vat receipt.
               Not sure what I'm suposed to do now! :-[
                         Any advice greatfully received.
                                          Graham. :-*


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Offline Jonathan

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Re: VAT?
« Reply #1 on: July 08, 2011, 04:58:27 PM »
Refund the vat portion and send a receipt stating that vat is not applicable to this transaction UNLESS you think you will be vat registering in the next 2 months.  Then it gets kind of complicated.

You know I'm not an accountant, right?
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skellum

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Re: VAT?
« Reply #2 on: July 08, 2011, 05:21:01 PM »
Might be best to send the cheque back with a copy invoice ( assuming it is a cheque ) stating the amount  due to you less VAT. My thinking is that once it is cashed it becomes more complicated in the system at their end.

Offline Oldboy

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Re: VAT?
« Reply #3 on: July 08, 2011, 08:27:08 PM »
  Hi Gang.
               I've flogged a licence to use one of my Gigpics.
               In my original corrispondance I explained that I am not vat registerd, and so will not be able to supply a vat receipt.
               I've just received the fee agreed +Vat, with a request for a vat receipt.
               Not sure what I'm suposed to do now! :-[
                         Any advice greatfully received.
                                          Graham. :-*

Suggest you return the payment in full and request payment without VAT added, as you don't have a VAT registration due to not reaching the VAT threshold.  ;D

VAT registration threshold
If you're in business, you must register for VAT if your VAT taxable turnover for the previous 12 months is more than £73,000. This figure is known as the VAT registration threshold. The threshold changes - usually once a year announced in the Budget - so you should regularly check your turnover against the current threshold.

You must also register for VAT if either of the following applies:

•you think your VAT taxable turnover may go over the threshold in the next 30 days alone
•you take over a VAT-registered business as a going concern

Offline Graham

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Re: VAT?
« Reply #4 on: July 09, 2011, 09:57:43 AM »
  Thanks for the advise chaps. :tup:

              Graham.
             
Build a man a fire and he'll be warm for a day.
Set a man on fire and he'll be warm for the rest of his life. 

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Offline Graham

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Re: VAT?
« Reply #5 on: July 09, 2011, 10:21:39 AM »
  By the way Jonathan, they wanted the pics deliverd via "Dropbox" so I opened an account via a link you provided in a previous post.
  Hopefully you will now have a bit more space to play with.
               Graham.
« Last Edit: July 09, 2011, 10:44:44 AM by Graham »
Build a man a fire and he'll be warm for a day.
Set a man on fire and he'll be warm for the rest of his life. 

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Offline jinky

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Re: VAT?
« Reply #6 on: July 10, 2011, 01:46:07 PM »
I love dropbox and used it for a few jobs since Jonathan mentioned it so thanks for that too !  ;)

Offline Graham

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Re: VAT?
« Reply #7 on: July 10, 2011, 04:50:23 PM »
I love dropbox and used it for a few jobs since Jonathan mentioned it so thanks for that too !  ;)
And it lets you know that the pics have been "collected", so you don't have to wait for the recipient to have the manners to confirm! ( >:()
               Graham. :tup:
Build a man a fire and he'll be warm for a day.
Set a man on fire and he'll be warm for the rest of his life. 

My Gallery
My Flickr Pics

 

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