Quote Originally Posted by Jonathan View Post
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'.
Nope any business pays Vat just the same has you, diference being they can claim it back. . . BUT they must then charge VAT on any labour or product sold. . . .Either way the Customs and excise want there cut.!! . . . . Mess with them and they bite hard.!!

So if your so sure then get intouch with Inland revenue and tell them all your undeclared earnings, I'm sure they won't mind you not paying tax on your £7 hourly rate because your working out the shed.!!

Being self employed I see John S point completely regards costings and UK business pricing. I'm also one of the first to condem Uk business's for ripping UK buyers off but in this instance I don't think this company is doing that if the machine turns out to be all that it's made to appear.? . . . Thou I do suspect that won't be the case.!!

Oh and the machine in the U-tube video was actually using belt drive not R&P.!!