uk-netmarketing Archive (2011-2015)

Hi Caroline,

It's a pain, isn't it? The paperwork is annoying. In theory it can be good
for cashflow though, you're holding a quarter's worth of VAT money, but it
can also trip you up.

We're happy customers of Xero, it's pretty inexpensive and does the VAT
management pretty well, including EC Sales Lists (you need to declare intra
EU sales, not sure how that's changed though with the new regulations).

I've tried to get advice on this from HMRC before but never spoken to
anyone who vaguely understands selling online. Most of our overseas clients
are outside the EU, so can't really advise from that perspective.
Presumably any commercial clients would be able to claim back VAT from the
UK gov?

Good question though - that may deserve a blog. I'll check in with our
friendly tax folks and see what they advise.


Toodle Pip

Sam

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On 25 March 2014 08:04, Caroline <caroline at radarmusicvideos.com> 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
>
> Managing Director
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>
>
>
>
>
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