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VAT
#1
Hello,

If I leave the daily pay group will I need to make arrangements for my own VAT?

Thanks Sacha.
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#2
I hope this helps.

If you're in business complete the details on this page making sure you include your UTR (Unique Tax Reference) - the ten figure reference used by HMRC. You'll then not have to pay VAT on AW's admin fee.

If your income for the previous 12 months has exceeded £83,000 you should register for VAT.

P.S. Let me know if I haven't answered your question!
A chartered accountant specialising in the adult entertainment industry. Professional and discreet.
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#3
Hello,

I don't fall into either of those categories. How would I go about sorting things with adultwork to have it taken off if I leave dailypay.

Thanks
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#4
if your earning on AW then you are self employed and need to be registered with the HMRC to complete your self assessments - by doing that you will have a UTR reference number and therefore fit into the first criteria
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#5
(17-11-2016, 21:57)Mia_Starlight Wrote: if your earning on AW then you are self employed and need to be registered with the HMRC to complete your self assessments - by doing that you will have a UTR reference number and therefore fit into the first criteria

Details of how to tell HMRC are on this page.

If you started after 6 April 2015 but before 5 April 2016 you must submit an online tax return before 31 January 2016 to avoid any penalties.

If you started before 6 April 2015 you will already be liable to penalties but it may be possible to have them cancelled. If you're in this situation you'll need an accountant - HMRC aren't very sympathetic.
[url=https://www.gov.uk/working-for-yourself/overview][/url]
A chartered accountant specialising in the adult entertainment industry. Professional and discreet.
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#6
Hi,

Thank you both for the response that will be my homework for this weekend. I have just started up so i have a little time to get things sorted. X
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