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| hey.... http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=1&t=28104 |
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| Author: | wannabeeahack [ Wed Dec 02, 2015 9:34 pm ] |
| Post subject: | hey.... |
rental taxis... if a base who surely must be vat regd (40 cars) rents out cars at £320/week (just add fuel) that must be vat inc? £266/wk plus vat then? now if only i could get a vat reciept it might work for me |
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| Author: | o-marek [ Thu Dec 03, 2015 5:29 am ] |
| Post subject: | Re: hey.... |
only if you're vat payer... what is not very profitable fo so called taxi drivers... |
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| Author: | edders23 [ Thu Dec 03, 2015 7:47 am ] |
| Post subject: | Re: hey.... |
I worked it out once if you are taking around £500 to £600 a week you would be about £5000 a years worse off vat registered |
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| Author: | wannabeeahack [ Thu Dec 03, 2015 6:04 pm ] |
| Post subject: | Re: hey.... |
edders23 wrote: I worked it out once if you are taking around £500 to £600 a week you would be about £5000 a years worse off vat registered i wouldnt, most of mine is contract/account |
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| Author: | wannabeeahack [ Thu Dec 03, 2015 6:04 pm ] |
| Post subject: | Re: hey.... |
o-marek wrote: only if you're vat payer... what is not very profitable fo so called taxi drivers... we are all VAT payers, you mean VAT registered |
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| Author: | o-marek [ Thu Dec 03, 2015 8:10 pm ] |
| Post subject: | Re: hey.... |
correct |
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| Author: | wannabeeahack [ Fri Dec 04, 2015 5:55 pm ] |
| Post subject: | Re: hey.... |
edders23 wrote: I worked it out once if you are taking around £500 to £600 a week you would be about £5000 a years worse off vat registered with vat at 20% that related to £25,000 sales/takings but does it include the vat back off fuel, repairs. etc? |
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| Author: | roythebus [ Sat Dec 05, 2015 2:47 pm ] |
| Post subject: | Re: hey.... |
Usually better off being registered, that way you only pay the difference of vat on what you buy and what you sell. |
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| Author: | edders23 [ Sat Dec 05, 2015 4:59 pm ] |
| Post subject: | Re: hey.... |
roythebus wrote: Usually better off being registered, that way you only pay the difference of vat on what you buy and what you sell. Fuel is about 15% of our takings so if you do £1000 worth of work £200 of that is VAT minus £30 for the VAT on the fuel and maybe £10 on other bills so about £160 worse off unless you can ADD 20% to the fares |
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| Author: | wannabeeahack [ Sat Dec 05, 2015 10:05 pm ] |
| Post subject: | Re: hey.... |
edders23 wrote: roythebus wrote: Usually better off being registered, that way you only pay the difference of vat on what you buy and what you sell. Fuel is about 15% of our takings so if you do £1000 worth of work £200 of that is VAT minus £30 for the VAT on the fuel and maybe £10 on other bills so about £160 worse off unless you can ADD 20% to the fares as I said, 80%-90% of mine is contract/invoiced just add vat and collect it, take off what ive spent in vat, send HMRC the balance |
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| Author: | edders23 [ Sat Dec 05, 2015 11:39 pm ] |
| Post subject: | Re: hey.... |
And your customers will be happy at suddenly having an extra 20% on the price ? |
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| Author: | wannabeeahack [ Sat Dec 05, 2015 11:50 pm ] |
| Post subject: | Re: hey.... |
edders23 wrote: And your customers will be happy at suddenly having an extra 20% on the price ? Y you no wristen? account work, invoiced, im vat regd, they are vat regd.....no issue meter fares must include vat, PH fares --- whatever, just add it on |
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| Author: | edders23 [ Sat Dec 05, 2015 11:53 pm ] |
| Post subject: | Re: hey.... |
wannabeeahack wrote: edders23 wrote: And your customers will be happy at suddenly having an extra 20% on the price ? Y you no wristen? account work, invoiced, im vat regd, they are vat regd.....no issue started work 06.00 am still at it brain tends to start to get a bit frazled by this stage |
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| Author: | wannabeeahack [ Sat Dec 05, 2015 11:53 pm ] |
| Post subject: | Re: hey.... |
edders23 wrote: wannabeeahack wrote: edders23 wrote: And your customers will be happy at suddenly having an extra 20% on the price ? Y you no wristen? account work, invoiced, im vat regd, they are vat regd.....no issue started work 06.00 am still at it brain tends to start to get a bit frazled by this stage i started at 9am but got a midnight booking |
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