Posted by TONY GOULD on June 10, 2005, 9:35 am, in reply to "Re: M.O.T & V.A.T"
I HAVE HAD THIS CHECKED OUT BY MY ACCOUNTANT WHEN I FIRST STARTED AND MOT'S WERE DONE AT ANOTHER GARAGE. THE VAT OFFICE CONFIRMED THAT I ONLY HAD TO CHARGE VAT ON THE EXTRA AMOUNT THAT I ADDED ONTO THE COST OF MY MOT. I.E. IF I BUY IN AT £35 AND SELL OUT AT £40 THEN I ONLY HAVE TO CHARGE VAT ON THE £5 DIFFERENCE. I DONE THIS FOR MANY YEARS AND HAD NO PROBLEMS WITH CUSTOMERS OR VAT INSPECTORS.