Going VAT registered

[babrees]

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OK, so I'm going VAT registered next month. Anybody got any tips, advice or anything?

Cheers
Jill

[paulb567]

If you have any queries/problems, unlike most of HMRC the people on the end of the VAT helpline are actually pretty clued up and helpful.

[hrbs]

OK, so I'm going VAT registered next month. Anybody got any tips, advice or anything?

Cheers
Jill

Hi Jill

Several things to consider ...

• Have you calculated whether the flat rate scheme would be beneficial? {there is a 1% discount off the flat rate for the first year of registration}
• Have you checked that you have the correct VAT registration date and have taken into account reverse charge services in your registration calculation?
• Have you made a record of pre-registration VAT that you can reclaim in your first return?
• What software are you using for your accounting records and can you use it to file the return online with HMRC
• If you receive income from EC networks (Amazon, Adsense, CJ etc) you will need to submit a quarterly EC Sales List - can your accounting software prepare and file this return for you

You will need to register with HMRC for online VAT filing and EC Sales list filing.

Regards

Keith

[babrees]

Thank you.

We currently have a ltd company but had thoughts of closing that. It was not in AM but was in the building trade. Due to the recession we decided to close that company. However, thinking further on this we are keeping it open but simply changing the course of it and putting all our other "eggs", including AM, into that business.

Keith, thank you - One thing I did not know about was reverse charges!!

cheers
Jill

[AndyBoylett]

Hi Jill,
we went VAT registered on 1st October 2010. For affilliate marketing with little in the way of purchases, the flat rate scheme is amasing at it simply gives you some extra cash!!

As far as collecting the VAT goes we have found it dead easy with all of the 12 Networks we use except for one, LinkShare. All the other Networks have sinmply paid VAT on all invoices after 1st October.

As far as LinkShare go, they have been arguing about it since August when I first notified them. I have had meetings with HMRC who have told me that they have to pay the VAT and that it is LinkShare who are responsible for collecting it from the Merchants. The MD of LinkShare UK has been ignoring my emails and phone calls and so I have just written to her boss in the USA.

Since having these issue with LinkShare we have been focusing all available effort on all the other Networks!

Any questions you have, I would be glad to help if I can.
Regards
Andy

[babrees]

Thanks for that Andy. I checked out the flat rate scheme but sadly I am not eligible.

Interesting, and sad, about Linkshare. Do let us know if you get any further with them!

[Barry]

Thats a shame, as when I first registered for the flat rate scheme under the title 'advertiser' I think I only had to pass 9% on which was a real bonus when starting out. I cant think why you wouldn't be eligible.

I have to say I dont do anything with linkshare either because of their lack of invoices and the VAT problem - its a shame really as they have some good merchants. If they got with it they could easily recruit a good few more of the affiliates here.

Ta

Barry