Not VAT Registered

If you are not VAT registered then you do not need to worry about VAT rates on sales invoices.

However, you will be charged more VAT for the goods and services that you purchase, and you will need to consider to what extent you pass these on to your customers.

For example, if you purchase an item which you sell at £9.99 and you don't increase the selling price to at least £10.20 you will lose revenue of up to 2.1%, which will come straight off your net profit.

If you would like some help in calculating how much to increase your prices by, please contact us.