Thread: Which cnc
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17-06-2012 #11
VAT is a tax levied on goods and services. I pay VAT on the things I buy, which a business may not have to. Surely I do not qualify for VAT because:
'When you must register for VAT:
Your turnover for the previous 12 months has gone over a specific limit - called the 'VAT threshold' (currently £77000)'
Plus it says I don't pay income tax below £2710, so that doesn't apply to me or many of the 'garden shed brigade'.
Please don't jump to conclusions, sadly that is no longer the case.
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