uk-netmarketing Archive (2011-2015)

Hi,

In terms of accounting packages you might want to look at some of the online accounting services that have sprung over the past year. Xero.com seems to be the most popular and one that we are just about to start using (finally we get to move away from the ridiculous Sage).

VAT - from a pricing strategy point of view it depends who your audience is. If you are consumer facing then charge everyone VAT and then take the profit for those territories where it isn't applied. It would at least be consistent. If you don't increase your prices you are effectively increasing your costs as you try to absorb the VAT that you will have to pay.

For the technicalities I would always listen to my accountant. We charge the VAT based on client location. So for our North American clients we charge VAT at 0%. For Europe it depends - it can be done on a marginal scheme or not charged at all - it's always a bit trickier and not so cut and dried.

In terms of applying to become registered my understanding is that you have to apply when you predict you will exceed the current threshold in the next quarter.

There are lot of benefits to be VAT registered - it was a no brainer for us - your office rent becomes cheaper for one!

Regards,

- Alan



On 25 Mar 2014, at 08:04, Caroline wrote:

> Hello Chinwaggers,
> 
> We're beginning to get close to the VAT threshold, so we're having to consider thorny issues of pricing.
> But there are other questions too, you might have some advice to share?
> 
> Book-keeping
> I currently run our book-keeping on Google Docs. Now might be a good time to swap to something like Quickbooks.
> Any suggestions on accounting software, preferably free software?
> 
> Rules
> When should we apply VAT and when shouldn't we? Our accountant has advised the preferred rules are to apply VAT only to sales to UK residents, but that HMRC sometimes take a different view and to check. I guess the budget announcement makes this preference law? viz:
> 
> ""As announced at budget 2013, the government will legislate to change the rules for the taxation of intra-EU business to consumer supplies of telecommunications, broadcasting and e-services. From 1 January 2015 these services will be taxed in the member state in which the consumer is located, ensuring these are taxed fairly and helping to protect revenue."
> 
> Any advice from anyone on how to easily spot where your blumming customers live? We use Paypal & Paypoint.
> 
> 
> 
> 
> Any other words of wisdom on the headaches & otherwise of becoming a fully fledged VAT registered company
> 
> Many thanks all, as ever :)
> 
> Caroline
> 
> 
> 
> 
> Caroline Bottomley
> 
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