Hi Pete, I have a question about VAT. I am not yet VAT registered and not sure when I will be registering. My BulletHQ Account is a VAT account but I have a random number in the VAT section (I forgot I did this when I signed up) and this shows on Invoices, I just realised today. Can this account be switched to a non VAT Account or will I have to sign up again fresh? – If the account switches to a non-VAT account, is it easy to change it to a VAT account in the future when I register for VAT. Also, as I am not VAT registered can I charge VAT to clients on purchases I have made such as website domain name? Or as I am not VAT registered do I have to foot the bill for the VAT on purchases like this. Obviously I am not charging VAT on my services but I have noted the VAT on purchases that I will incur when purchasing for a client. I think I will have to re-issue Invoices. Hope you can help. I am a bit worried about this as I think I may have messed up on this and hope a client does not query this. Thanks.
1) Your account can’t be switched back.
2) It’s easy to change from a non vat to vat that’s just in the tax section
3) If your not vat registered you cannot claim vat back.
If your worried you should talk to your account/bookkeeper they’ll need to understand more detail.
If your non vat registered you need to create a new account for Bullet.
Don’t worry about it though. It’s just a mistake.
Thank you, I have a non VAT account & a VAT account so can you delete the VAT account., sorry – hope this isn’t awkward for you. However, I have changed the company name on the VAT registered account so you will know which one to remove. Thank you. I will start again with the non VAT account. Thanks for the advice.