31st August 2011, 02:07 PM
Wax Wrote:You are unlikely turn over enough to need to register for VAT but do look into this so as not to get caught out.
The current VAT threshold is ?71,000 (c ?1400 per week) which sounds a lot, but that is turnover and not earnings. If you find yourself hiring a machine or site hut or vehicle or sub-contracting work, irrespective of how you are recompensed, you might easily end up approaching the threshold. I'd talk to HMRC about this aspect as well....
With peace and consolation hath dismist, And calm of mind all passion spent...