VAT reduction
Out of context: Reply #15
- Started
- Last post
- 34 Responses
- Horp0
I am back to thinking there's an element of confusion in this thread. You can only charge VAT if you're VAT registered. If you are VAT registered, you have to charge the VAT as a clearly marked VAT addition on top of your fees, not buried in your fees (unless you are selling to end consumers) and it has to be at the prescribed rate.
If you are VAt registered and charging VAt at the prescribed rate, you have to give ALL of that money to HM Customs and exise, not pocket a bit for yourself. This VAT rate reduction is trying to stimulate trade by giving anybody the ability to put the difference in your pocket, its an attempt to shave a bit off the cost of retail.
Maybe I'm still mis-reading soem these posts, but unless we're talking about retailing here I think some fo the comments above are a bit odd.
Apologies for the second time if I am indeed getting the wrong end of the stick.