True, but will the tradesman pass on that saving to the customer?
Not necessarily for the boiler as they buy it at trade and therefore don't pay VAT on it which can save quite a bit.
There are quite a few freelance businesses out there that will do the job for you minus VAT.
Most of these plumbers aren't even registered for VAT!
Exactly my point. Does not mean your going to be ripped off. You just have to know the right people.![]()
Exactly, I'm a one band man and not registered for VAT![]()
Someone please report this poster to the Inland Revenue!![]()
Plus they may have included thermostatic valves in the cost as they like to fit those now when overhauling an old system.
I know you are joking, but just incase anyone thinks otherwise, individuals don't have to be registered for VAT, therefor I have to pay it, and I can't reclaim it.
If your turnover is over 60k per annum you have to register.
I dont know many plumbers whose actual turnover is less than that.
You have no choice if your turnover is over that, you HAVE to register. It would give you no advantage whatsoever, better to let your customers buy the materials and just invoice labour only jobs. That way you have a better chance of staying below the reg limit
Sorry, I don't understand. Surely if you are registered for VAT as a company that means you can reclaim/ not pay VAT, and if you are not registered for VAT, that means you have to pay it on all purchases like everyone else, So why would being registered for VAT be to no advantage?
Again, could you please explain more, or give me a link to this legislation, I can't find it.
If you are registered then you can claim the vat back on your purchases but you have to charge vat on your sales (and pass the difference on to her majestys' tax collector). Assuming you make a profit i.e your income exceeds your costs, then you will have to pay more than you can reclaim. Ultimately, you will pass this on to your client but it can make you less competitive with your unregistered peers.