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Friday, 6 August 2010

Why wait to register for VAT?

Business Mistake 1?

When I started this business in 2007, I thought I'd hold off VAT registration until it became clear whether most of my clients were businesses, charities, or individuals - i.e. whether they could reclaim VAT. There is some sense in that. Now, most of my clients are businesses who are registered for VAT, although it's still important to have a pricing strategy that is appropriate for all my clients.

I've just looked at the amount of VAT I've paid ("input tax") since I started my business, and it's frightening. I can feel online VAT registration coming up.

If you want to learn from my mistakes, get in touch!

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