In Admin > Products > Product Settings, i've left both drop downs to ex vat.
My query is that, can i either get rid of one of the total columns as there are 3 now which list the same price or can i put some text somewhere on the page that says we are not VAT registered.
What has been the experience of others? Would you just leave it the way it is at present? Does it bother would be customers?
DickS
4 Jul 2008 7:56 AM
Guess your setup is OK. However, depending on where you are you must include VAT in your sales price, if you are VAT registered or not. I suggest that if you sell commercially you do get a VAT registration as you might get in trouble with revenue services.
Here in Europe you need to sell incl. VAT to private people in the EU unless they have a EU-VAT registration number. Viart checks that number online which is a nice function.
If you are in EU selling outside EU then you can sell without VAT and subsequently you dont need to submit VAT payments to the revenue service.
Hope this helps.
SajMalik
4 Jul 2008 11:00 AM
It is probably also worth mentioning for anyone new to VAT that:
If the value of your taxable supplies in the past 12 months or less has exceeded the current VAT registration threshold of £67,000, or the value of your taxable supplies in the next 30 days alone is expected to exceed this threshold, you should investigating the need to register.
Otherwise it is not compulsory. However, it may be wise to do voluntary registration depending upon things like VAT on set up costs the claim for which can be back dated - not sure how long for.
As for showing VAT on the checkout - you shouldn't do this if you are not registered. I am registered but I still show the full inclusive price only; domestic customers don't need this info just as they will not get it in a high street shop.
I hope this is also helpful.
Chris
fuzzbuzz (Guest)
4 Jul 2008 3:11 PM
Thanks for the replies.
Is there any way to remove one of the columns as 3 look a bit strange as if there were a flaw.