The Wholesale Forums

[bobby dasler]

Hi i know im going to sound stupid asking this but im getting a website made and i guess i would have to add VAT on my items. However who gets the VAT do i keep it or do i send it off to someone? Im confused on this subject and need help and guidance asap. If anyone could help that would be great

[Saajan]

Originally Posted by bobby dasler

Hi i know im going to sound stupid asking this but im getting a website made and i guess i would have to add VAT on my items. However who gets the VAT do i keep it or do i send it off to someone? Im confused on this subject and need help and guidance asap. If anyone could help that would be great

If you are VAT registered and have a VAT number, you will need to charge VAT.

If you are not VAT registered then you don't charge VAT at all.

[bobby dasler]

ahh right that is a big help, so i wont need to add VAT because i dont think i will reach the £68,000 as of yet

[bobby dasler]

Thanks for the help saajan

[Saajan]

Originally Posted by bobby dasler

ahh right that is a big help, so i wont need to add VAT because i dont think i will reach the £68,000 as of yet

That's right. You haven't got a VAT number therefore, you can't charge VAT.

[bobby dasler]

To be VAT registered do you have to have a turnover of more than £68,000?

[Saajan]

Originally Posted by bobby dasler

To be VAT registered do you have to have a turnover of more than £68,000?

No you don't have too.

[bobby dasler]

is it your own choice to register or not? What are the benefits of being registered?

[Saajan]

Originally Posted by bobby dasler

is it your own choice to register or not? What are the benefits of being registered?

If your turnover exceeds £68K then you need to apply for VAT.

If your turnover is below the limit - it's up to you.

Read this for the benefits:

What are the advantages of becoming VAT registered?

[bobby dasler]

cheers