Br 1st ol Posted June 28, 2007 Report Share Posted June 28, 2007 Just wondering? Link to comment Share on other sites More sharing options...
cheshire_red Posted June 28, 2007 Report Share Posted June 28, 2007 Of course. Link to comment Share on other sites More sharing options...
kevinmabbuttshair Posted June 28, 2007 Report Share Posted June 28, 2007 Apart from books, newspapers and childrens clothes what isn't? Link to comment Share on other sites More sharing options...
CiderHider Posted June 28, 2007 Report Share Posted June 28, 2007 This might help you.http://www.thefa.com/NR/rdonlyres/3CE15AFE...VATFootball.pdf Link to comment Share on other sites More sharing options...
Geoff65 Posted June 28, 2007 Report Share Posted June 28, 2007 This might help you.http://www.thefa.com/NR/rdonlyres/3CE15AFE...VATFootball.pdfMust one of the most accurate, comprehensive and yet concise replies ever. Link to comment Share on other sites More sharing options...
Br 1st ol Posted June 28, 2007 Author Report Share Posted June 28, 2007 so when one quotes Lita being sold for £1m, inj fact the invoice was for £1,175,000....All figures quoted are ex VAT? Link to comment Share on other sites More sharing options...
cheshire_red Posted June 28, 2007 Report Share Posted June 28, 2007 Absolutely, the VAT element is inconsquential in most business to business transcations as it is rare for one of the parties to be non VAT registered. Link to comment Share on other sites More sharing options...
BigTone Posted June 28, 2007 Report Share Posted June 28, 2007 Absolutely, the VAT element is inconsquential in most business to business transcations as it is rare for one of the parties to be non VAT registered.Thats right, you pay it and you claim it Link to comment Share on other sites More sharing options...
22A Posted June 29, 2007 Report Share Posted June 29, 2007 Forest were the first team to pay £1 million for a player (Trevor Francis) and he was hailed as the million pound player. That figure included VAT though, so Brum only received £900,000ish as VAT was only 8 or 10% at the time. Link to comment Share on other sites More sharing options...
Dave L Posted June 29, 2007 Report Share Posted June 29, 2007 Absolutely, the VAT element is inconsquential in most business to business transcations as it is rare for one of the parties to be non VAT registered.It isn't inconsequential when you're a one man band and you have to spend a day or two every quarter doing your VAT return :noexpression: I never did like Maths. Link to comment Share on other sites More sharing options...
cheshire_red Posted June 29, 2007 Report Share Posted June 29, 2007 It isn't inconsequential when you're a one man band and you have to spend a day or two every quarter doing your VAT return :noexpression: I never did like Maths.He complaineth he earns too much money But you are quite correct and the buggers have far too many powers, more so than the Police! Remember years ago, had a VAT Inspection, two of em turned up. It was in the days when written petrol receipts were the norm. One of em looked at me and asked if I bought me fags with the petrol. In my most innocent voiceI replied that I didn't smoke cigarrettes thank you very much. Now if he'd have asked about me cigars. Link to comment Share on other sites More sharing options...
rednotblue Posted June 29, 2007 Report Share Posted June 29, 2007 I wonder how many transfers actually have VAT invloced in them.I say this because when buying cars off other traders we very rarely pay VAT on them as they don't charge it. It keeps things simple for everyone. Link to comment Share on other sites More sharing options...
havanatopia Posted June 29, 2007 Report Share Posted June 29, 2007 Apart from books, newspapers and childrens clothes what isn't?i think baby wet wipes are zero rated :noexpression: Link to comment Share on other sites More sharing options...
Gerry Gows' Tash Posted June 30, 2007 Report Share Posted June 30, 2007 Intersting accounting fact (If there is such a thing) - Footballers are the only example of "human assets" which are depreciated. For those who don't know what that means - say you buy a car for £4k and own it for four years, after which it is worthless, it would have deprecieted by £1k per year. In the same way, if you buy a player for £2M on a 2 year contract, he is assumed (post bosman) to be worthless after that time, so has depreciated by £1M per year. What's unusual about this is that most businesses treat staff (in the accounting sense) as overheads rather than assets God I'm bored. Link to comment Share on other sites More sharing options...
Drew Peacock Posted June 30, 2007 Report Share Posted June 30, 2007 Apart from books, newspapers and childrens clothes what isn't?Houses.They have stamp duty instead. Link to comment Share on other sites More sharing options...
iWurzel Posted July 1, 2007 Report Share Posted July 1, 2007 Apart from books, newspapers and childrens clothes what isn't?Contraception, Sanitary items, biscuits & cakes to name a few! Link to comment Share on other sites More sharing options...
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