Im a sole trader and mostly sub-contract to companies.

What are the pro's/ cons for me going VAT registered? and how do i do it?

Im a sole trader and mostly sub-contract to companies.

What are the pro's/ cons for me going VAT registered? and how do i do it?

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO dont do it!!!!!!!!!!!!!!!!!!!!!!!!!

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO dont do it!!!!!!!!!!!!!!!!!!!!!!!!!

why not?

i would say it depends on your turnover, if you mainly sub to comapnies then they will claim it back so its pretty irrelevant, if you mainly work for pribate individuals it will make you more expensive, but of course once your registered you can yourself claim back vat on business expenses... that may include fuel depeding on how you are set up.

James

I think if you expect to turn over

just remembered... the VAT limits are different if you're a registered company or sole trader.... i think the limit for a sole trader is around

Definitly speak to an accountant.

Ask about "cash accounting" for VAT.

Means you only have to pay customs the VAT money you have actually received, not the amount you have invoiced for. Apart from the better cashflow for you, could be a life saver if someone goes bust on you.

if you do 50%+ b2b work reg for vat

cash accounting is now allowed upto a few million T/O and helps cash flow greatly.

just remembered... the VAT limits are different if you're a registered company or sole trader.... i think the limit for a sole trader is around

Well, for the replies all. Looks like this has turned in to a matter of opinion/ trading status.

The bottom line is, would i be able to provide competative prices and be financially better off?