31st August 2004, 07:02 PM
Those nice people at the Excise have just sent me a guide to what the vatable overheads should be for various industries. These are the figures for the flat rate charge of Vat on turnover. The scheme is only applicable to turnovers of less than 150K.
If we are a cultural services or archive industry then the VAT on goods and services equates to 10% of turnover, general building or construction services 9%, professionals in the construction industry 5% or lawyers 4.5%.
My VAT works out at just about the right amount.
A ready reckoner for how much Vat would be saved/paid can be found at:
http://212.100.226.149/hmc/index.jsp
So what should we be compared with as far as charge out rates and Vat are concerned?
Peter
If we are a cultural services or archive industry then the VAT on goods and services equates to 10% of turnover, general building or construction services 9%, professionals in the construction industry 5% or lawyers 4.5%.
My VAT works out at just about the right amount.
A ready reckoner for how much Vat would be saved/paid can be found at:
http://212.100.226.149/hmc/index.jsp
So what should we be compared with as far as charge out rates and Vat are concerned?
Peter