AKAMOTORSLTD

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Posts posted by AKAMOTORSLTD

  1. Posted

    6 hours ago, CRW said:

    That's always been my approach.  Its a relief when the VAT comes out a bit lower than normal, although its also a reality check that the last quarter wasn't great.  

    Also, AKA aren't VAT registered, but are LTD, have a website up and running and stock cars up to £10k.  Not required to be VAT registered?? After 2 years? I was VAT registered within 12 months starting with a pot of £7k.

    We have just begun our 2nd year trading and fortunately it seems didn’t meet the threshold for being VAT Registered.

    Thanks for the reply’s that has cleared a bit up for me and you can be sure if I am required to be VAT Registered I will certainly do that. I asked the question to make sure I was going about this the correct way rather than taking an educated guess.

    9 hours ago, MrC said:

    You'll be out of pocket. 

    The End

    Thanks for this lol!

  2. Posted

    Hello All,

    I have been reading these forums for years and always found great advice on here. I am currently in our second year of trading and we are still fairly small so not required to be VAT Registered just yet.

    We spend a lot of money on VAT, Fuel, expenses, parts, bills etc and it seems like a great idea to get VAT Registered and start claiming that money back.... however I would like to hear from some experienced dealers who have been through this rather than listening to the usual “ Yeah course it’s worth it you can claim all your VAT Back”.

     

    I personally do not beleive mr tax man would give anything back without taking it with the other hand.

     

    any advice would be appreciated and I look forward to some funny and probably sarcastic responses!