T. wrote:
Anonymous wrote:
T. wrote:
Has anyone joined this scheme ?
If so what are the benefits or drawbacks ?
Do you think 9% is a fair rate ?
Any input on this will be welcome as I am conscidering adopting the scheme.
T mate talk to your accountant b4 you do anything.
the prices vary accross the country therefore a fair deal in london is not a fair deal in Aberdeen.
for what its worth I think 10% is the figure we work on but thats here not there!
The May 2004 HMCE notice states 9% for the taxi trade. It does not mention any regional differences and there is a 1% reduction in the first year of VAT registration.
Does anyone know the rules on the jobs where the company acts as agent between customer and driver where VAT is only charged on the service element, does the whole fare count in the calculation of turnover or only the gross service charge. How would I record these transactions in my accounts and on the VAT return.
I am sorry how clumbsy of me you misunderstood me
what I am trying to say is that the difference between imput and output here would be 10% payable
therefore if I joined the scheme which I cannot I would gain.
now in some parts fares are higher in some expenses higher and therefore
the gap could be higher.
so you need advice from an accountant.