Adding V.A.T to ebay invoice

craftdaft

Thanks for your replies. I should have mentioned that we have a VAT registered business but we were selling a surplus piece of equipment on ebay. Prior to listing we looked at how to add VAT but we were looking at the wrong bit I guess. We were obviously very lucky as the buyer knew the VAT had to be added and happily transferred the full amount into our account:T We could easily be £1500 down if someone hadn't paid the VAT :eek:

We'll sort out a business account before we list anything else. I'm so grateful that you've managed to help us :T:T:T

In answer to your question OnewayonlyJesus you need to consider the VAT when pricing. Do you need to be VAT registered? We are for our main business but when I started selling handcrafted items I didn't register that business for VAT. It means I can't reclaim VAT on purchases but I would find it harder to price my items competitively if I had to add 20% VAT on.

RFW

craftdaft wrote: »

In answer to your question OnewayonlyJesus you need to consider the VAT when pricing. Do you need to be VAT registered? We are for our main business but when I started selling handcrafted items I didn't register that business for VAT. It means I can't reclaim VAT on purchases but I would find it harder to price my items competitively if I had to add 20% VAT on.

Just to add that the businesses would need to be separate entities for one to be registered and one not, either as a limited company or partnerships, etc.

For all things concerning tax, it is always best to get advice from an accountant or HMRC direct and not from an idiot like me on the internet;)