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To VAT or Not to VAT
I am currently thinking about registering for VAT voluntary that is...
Pros: I would get at the very least a grand back on my recent purchases.
I would get vat back on most future purchases.
My rent for office would be 40 quid cheaper per month.
internet and phone etc would make a small saving.
But the main reason is that I have some business clients whom rent P.A. from me and they would obv make a saving and I would look more pro shall we say.
Cons: Well Paperwork every 3 months.
Have to charge VAT to everyone else.
There is probably more and I have been advised from a few friends who have businesses that say the tax man takes a keen interest in everything you do when your reg for VAT and I shouldn't go near it.
Any thoughts? Anyone reg for VAT?
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