VAT Increase

[RockCeramics]

thanks.
at the bottom of my quote i have entered

Item 5 will be VAT chargeable at current rate of invoice.
S/TOTAL £xx.
NOT INCLUDING CURRENT VAT RATE.
​

If they aggree on my quote i prob should state that if payment made from 01 01 2011 vat of 20%.​

 

[Perry]

20% if your going to be paid after january1st 2011

would have thought if you invoice after not when you get paid ete

 

[Perry]

i am vat reg so i don't think it will make much difference to me business wise i will just get back what i pay out and collect the rest for vat office i think they should pay me for that as i have to pay someone else to do it for them :incazzato::incazzato:

 

[david campbell]

but if you're not VAT registered it shouldn't make much of a difference,( apart from 2.5% on materials, fuel etc)

not just that doug!
it might put customer off when they get all priced up for bathrooms or kitchens in the £1000's they can add on 2.5%
i.e that £7995 kitchen will now cost £8194.86 some people refuse to break a budget and would then reconsider or find ways of cutting costs elsewhere! i.e tile it themselves:yikes:

 

[White Room]

Thats a good point David

 

[united]

not just that doug!
it might put customer off when they get all priced up for bathrooms or kitchens in the £1000's they can add on 2.5%
i.e that £7995 kitchen will now cost £8194.86 some people refuse to break a budget and would then reconsider or find ways of cutting costs elsewhere! i.e tile it themselves:yikes:

That's a very good point

 

[SandyFloor]

I hate to be pedantic but prices won't go up 2.5%. The vat goes up 2.5% and this means prices with vat go up by 1.89%.

Remove the 17.5% vat by multiplying the total figure by 0.851 and then multiply by 1.2 to add the new 20% vat.

Or try this : http://calculator.contractoruk.com/vat-calc.php

It doesn't make too much of a difference but it's better than it seems.