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tuesday
Apprentice
Joined: 17 Jul 2006
Posts: 4
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 Posted: 01/12/08 - 07:57 Post subject: |
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| My brother is about to open a small sport equipment shop. We are aware of the fact that all goods undertake some taxation included VAT. His goods would be sold directly to the public and he’ll face the problem of issuing a VAT invoice to each sale. I heard of this Vat retail scheme so I wonder if we could get it and make our doing business easier. |
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jonah
Apprentice
Joined: 11 May 2005
Posts: 4
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| Posted: 02/11/08 - 02:13 Post subject: |
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| You are totally right! This VAT retail scheme will ease your selling and issuing invoices. They may seem a bit confusing, but believe me; they will keep you from every day headaches. Main benefits that these schemes bring to you are that you won’t have to issue VAT invoices all the time unless someone asks and you will be provided with alternatives of VAT accounting. According to these schemes VAT rates are: standard rate (17.5%), lower rate (5%) and zero rate (0%). |
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