From Trash to Cash: the Dribbling never ends

MummyandPaige

Morning all

Jo - we have progress with the fly issue! After weeks of screaming and crying and her being cuddled, I have been trying to make it funny by grabbing her arms and flapping them and telling her "It's just a fly, it goes flip flop fly away". Yesterday, there was a fly in the kitchen and DD said " Mummy It's just a fly, see it goes flip flop fly away". Could have knocked me down with a feather! Didn't last, as just before dinner, she saw another one and screamed, but think that was because it was getting near bedtime and she was a bit tired, but its a start! Can't remember how old your DD is, but don't think she is much older than mine (2 1/2), maybe worth waiting until she has calmed down then trying to make it fun instead of scary? Justy have to work on ants, bees, bugs and worms now!

Mini move for today is not an easy one. The trouble is, I know where and what I want to be by the end of the year, but everytime I picture it, and whatever senario I choose, OH isn't there, he just doesn't fit. He constantly has to spoil everything and tbh, right now, I would rather not think of the reasons behind it.

I joined this challenge not for the 10k, but for a bit of independence, a purpose and the confidence gained from knowing that I could do whatever it was that I set my mind too. I think over the last few months, I have gained that, but it is now making me question why it was that I didn't have that in the first place, and right now, I am not liking the answers, so if you don't mind, I am going to bow out of this mini move as it is depressing me too much to think about. I do know this though, I would like to have an internet connection that doesn't drop out everytime you type a long post and hit submit!

2Cats - probably a stupid question, as you have said that you have been close to the limit before, but have you look into what the VAT office catagorise your business as? I know that certain industries are VAT expemt, or VAT reduced by nature. Not knowing the specifics about what it is you do, seeing as how you work with children, would you fall into one of these catagories? I know that providing food is a zero rated industry as that is what fishing is classed as, but unsure of the rest. Would it be worth giving them a call to inquire? They are very nice when they want o be!

Right, off to find out where the hell the polling station is! Organised as ever!

2cats1kid

Yup, we are reduced VAT which is 5%. Trouble is, with doing a cost increase increase each year anyway, which doesn't raise me any more profit - it's just to cover staff pay rises, fuel price increases, hall charge increase etc. etc. another 4-5% on top of that would be a lot for people to stomach, and I am sure would lead to people leaving. e.g. say I was charging £5 (just to keep the numbers simple) and I wanted to increase to £5.25 (which is a 5% rise) then VAT on top of that would make it £5.51. So people don't understand that I need to charge VAT now, they just see a 10% increase at a time when they are struggling anyway. Do you get what I mean?

Thing is, the VAT limit currently is £70K, but the deregistration rate is £68K. So if I go over £70K even just for a week (as it's done on a rolling year), I have to register (in theory) but then to deregister it has to go down to £68K and stay there for ... can't remember, some period of time. So there can be a period of time where you aren't over the VAT limit, but still have to charge VAT! So it is totally a pain to go into VAT in the first place. I also do all my books myself - tax return, PAYE for staff, national insurance for those that earn enough so I really don't need VAT on top of it all or I will have no time at all. Accountant would save me time, but cost me money I can't afford.

nolongerindenial

2cats1kid wrote: »

Yup, we are reduced VAT which is 5%. Trouble is, with doing a cost increase increase each year anyway, which doesn't raise me any more profit - it's just to cover staff pay rises, fuel price increases, hall charge increase etc. etc. another 4-5% on top of that would be a lot for people to stomach, and I am sure would lead to people leaving. e.g. say I was charging £5 (just to keep the numbers simple) and I wanted to increase to £5.25 (which is a 5% rise) then VAT on top of that would make it £5.51. So people don't understand that I need to charge VAT now, they just see a 10% increase at a time when they are struggling anyway. Do you get what I mean?

Thing is, the VAT limit currently is £70K, but the deregistration rate is £68K. So if I go over £70K even just for a week (as it's done on a rolling year), I have to register (in theory) but then to deregister it has to go down to £68K and stay there for ... can't remember, some period of time. So there can be a period of time where you aren't over the VAT limit, but still have to charge VAT! So it is totally a pain to go into VAT in the first place. I also do all my books myself - tax return, PAYE for staff, national insurance for those that earn enough so I really don't need VAT on top of it all or I will have no time at all. Accountant would save me time, but cost me money I can't afford.

Have you considered othe things your are paying vat on? I can seriously reccommend getting an account, I know it is money you say you can not afford however a good accountant will pay for himself twice over in the tax he will save you.. Trust me I know.

My accountant has saved me an absolutely massive amount of money I cant afford to spend through finding other things I can claim for. I also found that taking voluntary registration for me has weeded otu a lot of bad clients, however my business is B2B.

The other thing is a good accountant is as corrupt as they come, working every single figures in your benefit. You may find vat registrations costs can be offset against VAT you pay, however without knowing your business I can not suggest what to do.

My accountant costs me a lot less than the peace of mind of having him fighting my corner with HMRC is worth. It has also freed up so much of my time I can work on projects which earn me money rather than read HMRC's website all of the time!

2cats1kid

If you are on reduced rate you can't reclaim VAT.

ETA, believe me I've looked at this every which way up, as have other franchisees. Many others are trying everything they can to avoid VAT too.

moneymabel

jmrance1 wrote: »

I have a 7 month old Golden Retriever. He is fantastic and has helped my depression too but I spend way too much time with him instead of money making :-)

Awwww bless :-) I've got a 9 week Collie-shes mad as a box of frogs but I agree they are great for depression as they make you get out for walks (have one that is 2 years old as well) even when you dont want to.

Ok-mini move

Its December 2010-

The wedding jewellery website is now doing well enough to support me month to month without being to busy I need to take on staff, I feature in wedding magazines every month thanks to Nixis PR campaigns. The 'other' website has been a big hit..there is a rumour that someone famous is going to be wearing a something blue merkin under her wedding dress.
The internet viral campaign worked very well and I will be employing Nixi and Dilli full time for PR and website updates :-)
Oh and I woke up this morning and found I'd lost a stone!

jo70mo

MandP sorry for depressing you. like every mini move its just there for people who want to do it. glad you've got so much from the thread but can see its throwing up a lot of difficult stuff for you too hun. there will be a right time to think about them I'm sure but my mini move is obviously not the right time hun. big hugs.
good news about the flys.
not got much further here. she is 4 and we have been trying to do light hearted stuff around it but she sees through it so I've backed off for now.
MM love your mini move hun that will be sooo cool especially someone famous wearing ia something blue merkin under their wedding dress.
yay.
not seen Dilli for a few days so if you are reading hope you are ok. hugs if needed.
Jo x

cagneuk

morning all,

will have to think about today's mini move a little.
Welcome back Toots and Amber.
Nix, have pm'd you about zumba.

Made £80 yesterday from the sale of my weights bench and free weights, yay!!
I know I could have probably used them in my effort to get fit but we really have no room for them.
I got weighed this morning and I am 17st 4lb. 8lb gone in 11 days. I've now past my first challenge of getting below 17 and a half. Next step to get into the 16st range.
Measurements have changed slightly, have lost half inch on hips and waist, nothing on chest.
Still not heard back from PPI claim, they have until the 13th to reply, hope so much I get it back but don't want to build my hopes up, AARGH! catch 22.
Probably going to do another car boot this weekend if I can spend saturday sorting all my things out.
Also worried a little about my operation on Monday about my kidneys.
DD and DS both have colds and I think I'm getting one.
Work today I'm sitting in on a webinar and I have the monthly reports to pull together for April.
Oh and blog to do at some point.

jo70mo

well done on the weight loss cagne. thats great.
right off to do some kitchen science with DS. he wants to devise his own experiment. so who knows whats going to happen.lol.
back in a bit.
Jo x

moneymabel

well done on the weight loss Cagne thats brilliant!!

nixinixi

emailed you cagne thank you!

Kitchen science experiment sounds fun - let us know how it goes Jo!!

Mambury - hope you are ok and your sis is too. hugs xx

I'm thinking about my mini move whilst ironing...will post later. Interesting!

My car is on its way to be repaired - eventually they agreed the did have warranty and that it was a warranty job, and I got them to collect and deliver the car ....as long as it gets back ok I think that is a really good result!!!

2cats - can you run two businesses? so split the areas, or is that a really naughty way around it??

Right back to the ironing

:wave: to everyone!!