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I'm sure Peter can answer this question.....I am right in thinking that the ?68,000 VAT threshold is based upon your business turnover and not necessarily your personal earnings?.
I was just thinking that as a self-employed archaeologist you might get involved with machine hire or other such expenses, which even if recompensed, could push your turnover above the threshold even if your earnings stay below the level......
With peace and consolation hath dismist, And calm of mind all passion spent...
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I think I can answer that one as well.. :0
Turnover..
Constant development is the law of life, and a man who always tries to maintain his dogmas in order to appear consistent drives himself into a false position.
Mohandas Gandhi
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I think its on turnover which as Kevin says could and does push people into the realms of VAT.....and while were at it what is the Value of Value Added Tax....sorry for going off topic....
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Everything you wanted to know about the history of VAT around the globe
http://en.wikipedia.org/wiki/VAT
With peace and consolation hath dismist, And calm of mind all passion spent...
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The VAT threshold is on the turnover of business income (which is different to personal income) so by the time you have added kit, machine hire, sub contractors and specialists, materials it would be relatively easy to reach the threshold.
The HMRC web sites are quite comprehensive and it is all straight forward but as I keep on saying get professional advice on these matters if you are not sure.
Peter
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Hello doc etc
I apologies that I am a bit diffuse in getting ideas across. What I am trying to get at is should what archaeologists do be zero rated or exempt VAT. I can see that some charity units have established that digging in commercial archaeology is educational and I can see that eh seem to have established principles on the VAT subject I am just imaging the effect on the industry that it would have if it was considered that a self employed digger was zero rated and so could claim back the vat on fuel, accommodation and anything else.
Quote:quote:original investigation undertaken in order to gain knowledge and understanding?. Since 1 August 1994 the supply of research by an ?eligible body? is only exempt from VAT when supplied to another ?eligible body?. For the purposes of the supply of commissioned research, an ?eligible body? is a local authority, university or non-profit making body whose ?circumstances must prevent them from distributing, and they must not distribute, any profit they make. However, in addition, they must apply any profit that might arise from their supplies of education, research or vocational training to the continuance or furtherance of such supplies
enjoy
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If the question is about VAT and archaeology in general... this is OK
If however we are straying into the its not fair.. bleat bleat... charity... mumble pension.. blah pension... then this could be a very short stay on the forum.
Lets make sure it is reason number 1.
Constant development is the law of life, and a man who always tries to maintain his dogmas in order to appear consistent drives himself into a false position.
Mohandas Gandhi
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purest reason 1 (but I dont have a pension and I am very old)
what do you think about the effects of being zero rated
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I dont think it is possible for an individual self-employed archaeologist to be zero-rated for VAT.
Is there anything more to say on this subject?
With peace and consolation hath dismist, And calm of mind all passion spent...
