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Simonster
Working from home (UK)?
I have a full time job as a designer in repro studio for a litho print company and automatically pay my taxes and national insurance. I also have a computer and setup at home to enable me to produce artwork for letterheads and brochures for my own clients. I pay cash to 3 printers and forward on an invoice + my profit to my clients. I am getting more concerned with the volume of work I do and I wish to pay the extra tax for my earnings as I'm an honest person but the vat is an issue as this would take my profit away as I can't claim it back and my clients can claim it back if I pass the vat on. This would make it not worth my while but I want to continue and pay what I need to pay and stay legal.
Does anyone have any advise please - THANKS! Additional Details ***PLEASE NOTE***
My question is not asking for links to Crap Scams on the Internet.
You're quite right to want to get the VAT sorted out.
Although you don't HAVE to register for VAT you certainly can. If you do this you can get back the VAT you spend on your purchases. When you add VAT to your sales you won't get to keep any of this but will simply be acting as a tax collector for HMRC and passing it on to them.
If most of your clients are VAT registered businesses it would be in your interests and theirs to get registered for VAT.
HMRC website has the necessary info about registering for VAT.
Just remember that once you have registered you'll then be liable ffor penalties if you don't follow the system correctly. On the plus side, HMRC have added more small business measures recently and they will first try to help you to get the VAT right, before they penalise you.
Try contacting HMRC - in these situations they are far more helpful than you might imagine!
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