Furniture makers, how do you get your customers?

[Rhossydd]

They are also VAT registered so must have a revenue/turnover of £85K ,

Not necessarily, that's the point you need to register. Some businesses will choose to register for VAT before they reach that turnover level. It will depend on who you sell to and a few other factors.

 

[J-G]

Also not an accountant, but I believe that you can voluntarily register for vat below the threshold, I believe some firms will only deal with your business if you are registered.

That is correct. I registered when VAT was introduced - I had been registered for Purchase Tax previously though.

There are advantages if your customer base are also registered. I'm still registered 51 years later and most quarters I now get a refund since I'm semi-retired so my turnover is often less than £100. Q2 this year I'll get a £1.36 refund (T/O £44) - - - Q1 I paid them £320.81. (T/O £3k)

I don't begrudge the few hours a quarter that I spend dealing with my accounts and the VAT Return takes me less than 5 minutes. Anyone who considers a businessman to be an "Unpaid Tax Collector" has no idea what it entails.

 

[MF1000]

That is correct. I registered when VAT was introduced - I had been registered for Purchase Tax previously though.

There are advantages if your customer base are also registered. I'm still registered 51 years later and most quarters I now get a refund since I'm semi-retired so my turnover is often less than £100. Q2 this year I'll get a £1.36 refund (T/O £44) - - - Q1 I paid them £320.81. (T/O £3k)

I don't begrudge the few hours a quarter that I spend dealing with my accounts and the VAT Return takes me less than 5 minutes. Anyone who considers a businessman to be an "Unpaid Tax Collector" has no idea what it entails.

I did it for 13 years ….when the software systems we have now weren’t around for a small business….so yes I do know what it entailed

 

[J-G]

I did it for 13 years ….when the software systems we have now weren’t around for a small business….so yes I do know what it entailed

I wrote my own accounting software - upgrades as necessary due to government edict are simple to incorporate.

The free VAT Bridging software that connects my accounts to the VAT Man is a doddle to link to.