VAT question

[sexyk88]

I have a question about registering on AW site details for tax, it asks for an EU VAT number however it's not a requirement if you earn under the VAT threshold in the UK.

So question is when registering on the site that I am registered as a sole trader what do I do about the VAT bit, I don't earn enough to be VAT registered here in UK.

Thanks.

[EmmaEH]

If you earn below that threshold you can still voluntarily register for a VAT number. If you do there's no more VAT charged on your adultwork earnings.

[sexyk88]

Don't think I want to be doing VAT returns, if I don't I gather I can still claim the charges from AW in expenses?

[BeautifulBADGirl]

Filling in the box that asks for your VAT number is optional. Hover over the writing next to it where it says "EU VAT NUMBER" and you will see that it says "if you have one supply it, otherwise optional for UK"

[3CA]

If you earn below that threshold you can still voluntarily register for a VAT number. If you do there's no more VAT charged on your adultwork earnings.

I'd be very careful with a voluntary registration. There's a danger that you'll lose a sixth of your income because HMRC will say that for every £120 you earn £100 is yours and £20 is theirs.

Without knowing the "nature " of the income I can't be any more definite. If someone can enlighten me I'll be more definite.

[sexyk88]

Any recommendations for software for doing taxes?

[3CA]

Any recommendations for software for doing taxes?

In this day and age I think the only option is a phone app.

Desktop and online software is fine for "office based businesses" but if you're a one person business using a mixture of cash and bank payments (including debit and credit card payments) I don't think you can beat the 1tap apps

You don't even have to record the payment just take a photo of the receipt and the app does the rest. It doesn't matter how you paid it (cash, direct debit or one of your cards).

If you don't have a receipt you can enter the payment manually and e-mail receipts (Amazon, EBay, etc) can be e-mailed to the app.

Their latest version allows you to record income as well.

If you have an accountant, the information is sent to them so they can be more proactive with their advice. (If your accountant doesn't have this facility you may need a more proactive accountant :-)

Over the next few weeks I shall using my blog to highlight the advantages of this app. I will enter links in this forum as I publish them.

P.S. I may even be able offer a discount on the App Store prices, so don't commit too early.
[url=https://1tapreceipts.com/#/][/url]