Re: FN-FORUM Re: Vat on Quotes

date posted 31st January 2003 14:10

> Presumably I still make reference to the fact that it is excl. VAT, and then
> charge it onto the invoice when the time comes?

Hi Paul,

You can only add vat to an invoice if you are registered for vat with HM
Customs and Excise.

If your annual turnover reaches (or is projected to reach) £55,000 per
annum, you are required to register. Then all your invoices must show your
vat registration number and you must show the prices of goods and services
net of vat, then add the vat at the appropriate rate applicable at the time
for the type of goods/services you have provided.

You can volunteer to register if your turnover is below this threshold if
you feel it will benefit your business

You have to fill out a vat return every quarter and send in a cheque for all
of the vat you have collected, minus any vat you have paid on buying in
goods and services from your suppliers (eg computer equipment, software etc)

Full info at: http://www.hmce.gov.uk/business/vat/vatregist.htm

HTH

Best regards,

Ray

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Specialising in design for data-driven websites
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