A topic for everyone who is self-employed. Are you a small business owner or starting a company with a VAT account?
We may all have to ask ourselves this question sooner or later. In practice, however, the small business regulation is not only noticeable through the elimination of the advance sales tax return. Small businesses also do not have to show sales tax on their invoices if the turnover (is not = profit) has not exceeded EUR 17,500 and is not expected to exceed EUR 50,000 in the current calendar year.
What happens when you reach the limit? On the one hand great, but on the other hand this also brings changes for customers and for the company itself.
We also had to deal with VAT when we founded the company and decided to do it, even if that means paying 19% more for our customers. We did a lot of research and stumbled across some very interesting information: did you know that in the United Kingdom of Great Britain and Northern Ireland for the following goods:
* almost all foods
* Drugs prescribed by a doctor
* Books and newspapers
* Children's clothing
* medical device
* Taxi rides, bus tickets, train tickets and other public transport
NO VAT has to be paid!
We think their regulation is great, because it benefits exactly those who need it, namely families and the sick.
#VAT #smallbusiness #becausewecare #family #childrenareourfuture #littlefoxx #onlineshop #doingthoughts