£67,000 a year and then you HAVE to pay vat. easy one. just make sure you understand as they can hit you back taxes. easy to set your own limit to avoid anyway. sometimes it suits people to register cos then you can claim vat back on your invoices . they pay you. but if your registered you have to record every transaction and pay all 17.5% to them 1/4 erly. blessin is you can knock off 17.5% the invoices against your tax./ but they check a lot
say you paid £500 vat on incoming invoices. then you can knock off the 500 from the tax you owe them.
Last edited by badebay; 07-28-2008 at 02:04 AM.
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