Bicycle shop
Mar 10th 2012, 10:13 am
#31
BE Forum Addict
Joined: Apr 2008
Posts: 3,171
Re: Bicycle shop
Running a businessin the uk is nothing like running one in Spain.
VAT is due not matter how small the takings, there is not VAT threshold, and if the same rules applied as regards minimum turnover required before paying VAT, then loads small business in Spain would not pay a penny.
l:
VAT is due not matter how small the takings, there is not VAT threshold, and if the same rules applied as regards minimum turnover required before paying VAT, then loads small business in Spain would not pay a penny.
l:
But they would still be paying it when they purchased items from bigger suppliers but would not be able to reclaim it as you can when VAT registered.
Mar 10th 2012, 1:16 pm
#32
Banned
Joined: Aug 2009
Posts: 5,008
Re: Bicycle shop
That is what I meant to say,that they smaller business with a low turnover would not have to pay the quarterly VATG bill, and become a tax collector forthe Gov.
