MSE Blog Discussion: Charidee and MoneySaving: how to be tightfisted and openhearted

Former_MSE_Rose

This thread is to discuss the MSE team blog:

Charidee and MoneySaving: how to be tightfisted and openhearted

Just click 'reply' to post - thanks

lincroft1710

One minor point you may want to alter on the blog, Freecycle now calls itself "Freegle".

Useful blog with some good points, but no real new info as far as I'm concerned.

Regshoe

"Skills swaps are another great way of giving for free; I know a resourceful Spanish teacher who’s been swapping her language skills for guitar lessons for years – without a penny ever changing hands."

If they operate alone then I doubt that either the Spanish teacher or the Guitar teacher will be VAT registered, but if either is they should probably be accounting for (and indeed paying) VAT on these services, even if no money is changing hands (see below from the HMRC website).

Honestly, just when you think you are helping people some git of an accountant turns up and spoils things

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2.9 Do I still have to account for VAT if no money is paid?

It depends. If you provide genuinely free services there is no VAT. Free goods are treated a bit differently. If you occasionally give away to different people an item from stock that has cost you less than £50, there is no VAT. You must account for VAT on all other goods which you provide free of charge.
You must also account for VAT on the full value of anything you supply if you receive goods or services rather than money in return for it. For example, if you take something in part-exchange for goods you sell, you must account for VAT on the full value of what you sell, not just the money that changes hands.

Mobeer

Your being "kind" to the kids in the restaurant was also being "cruel" to the owner(s) and staff of the restaurant.

michellew_2

tbh I always pass on any vouchers in restaurants etc if we won't / can't use them - someone may as well have the use of them and I have had coupons passed to me in the supermarket too - what goes around comes around

kirkh

Regshoe wrote: »

"Skills swaps are another great way of giving for free; I know a resourceful Spanish teacher who’s been swapping her language skills for guitar lessons for years – without a penny ever changing hands."



There's a great organisation called timebank in the UK for this kind of thing- google them!