de-registering for VAT

[binky]

So with the destruction of my solar work, there is little chance of me going over the VAT threshold this year. So I'm considering de-registering for VAT to make life simpler and avoid having to charge VAT on my labour to my mostly domestic customers. 

So question is, has anyone done this on here, and were there any unforseen consequences?? 

 

[Evans Electric]

I did that Binky  ,  no problem really .       A few  things occurred together :-   

I got older .

My pension kicked in . 

Most of my commercial customers had gone bust.

I decided to work less & not chase work .

My knees  were suffering from 100 years of Sparking.

Most enquiries had slowly become Domestic instead of  Commercial  & industrial. . 

Informed HMRC  to remove me from the CIS system  because I would NEVER ,EVER , employ anyone ever again .

Informed VAT office  I was now semi - retired and it was pointless being registered .               ( Not good for domestic work)  

Both the last two warned me to re-enlist if I ever employed anyone , sub contracted to a builder  or reached the VAT ceiling . 

 

[binky]

my 2 main customers are both VAT registered, so I'm not sure it's a good idea at the moment, and I have a largish solar job to do in the new year for which VAT is useful, but beyond that most of my customers are domestic...

 

[Murdoch]

Probably worth talking this through with an accountant?

 

[Evans Electric]

my 2 main customers are both VAT registered,

I'd leave it as it is for now then .

I never met the VAT required limit  but  all my customers were VAT registered and  at least four  were asking me to register .   

So the small amount of domestic we did then was usually  quoted & invoiced by my partner  .  

 

[binky]

I'd leave it as it is for now then .

I never met the VAT required limit  but  all my customers were VAT registered and  at least four  were asking me to register .   

So the small amount of domestic we did then was usually  quoted & invoiced by my partner  .  

kind of what I was thinking, and I'm used to it - getting vat back on tools and things is rather nice!

 

[Evans Electric]

kind of what I was thinking, and I'm used to it - getting vat back on tools and things is rather nice!

As you say  .....  you tend to look at prices before the VAT  .       A tank of diesel in one of the Escorts  was usually less £6  - £8  in VAT .

I just wanted to dump as much paperwork as possible . 

 

[binky]

kind of where I'm at, fed up of form filling and non-sense.

 

[Murdoch]

kind of where I'm at, fed up of form filling and non-sense.

Are you referring to VAT or the 18th edition ... Or both?

 

[Evans Electric]

For me ......both !

 

[binky]

Ha Ha , definetly both these days, I dropped the MCS registration because of the extensive paperwork system which was costing £2k ish a year to rpop up another quango scam.