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Post Info TOPIC: VAT help
rigger


Newbie

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VAT help
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hello im a bricklayer sub-contracting on a labour only basis in belgium, right the thing is the contractor whom im working for insists that im VAT reg, so in order to receive my payments i`v had to vol register for VAT,even though i may only earn 40k a year, on my invoice could i put excluding VAT?to avoide charges back in the uk? do i have to pay VAT even if i don`t reach 68k, its all new to me this, i`m in the deep end PLEASE help, how do i do this without getting VAT bills. thanks MARK.

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Brewsie


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rigger

If you are VAT registered, then you have to add VAT to your invoice.

Not sure why you are so worried about a VAT bill. All you will owe the VAT man is the amount of VAT you have added to your invoice.

Assuming you are invoicing for £1000, add VAT at 15% (£150); you receive £1150; keep £1000 and the £150 goes to to the VAT man.


In practice, you will be able to offset VAT on some of your costs so may owe less than £150.

I would talk to a good bookkeeper or accountant.

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BackOfficeGroup


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Are you sub contracting to a company that is UK registered or Belgium registered. If UK registered then VAT will be accounted for and added to the invoice. If Belgium registered, you will not add any VAT to the invoice but you may have to put on your invoices their VAT number and a note about Reverse Charge Supply. Its very complicated so I would strongly recommend talking to a VAT specialist as if you read Notice 741, you won't understand it!

I have been through this process with a client in Southern Ireland and had to double check!

Now thats thrown a spanner in the works!

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