Best reason for a discount?

[cr0ft]

Had a VAT inspector ask me if I would do a job for cash once. Don't do them, not worth years in prison.

 

[hammers4spanner]

i always hear differing stories with vat and tax man think depends whom you get on the day .

 

[ManchesterGas]

How one family were brought to their knees by the taxman - Telegraph

The vat can do as they want...

 

[hammers4spanner]

£750 per hour nearly as much as us plumbers aparently

 

[PlumbersMate]

That's a disgrace

 

[Centralheatking]

We often take payment in cash - there is nothing wrong in this - we issue a reciept.

Cash is better than a bounced cheque. Direct electronic payment is King we love it.

Never Never mess about with the vat man - a friend did once - got a phone call at
6am - he said i will meet you at 9am - No they said we are on your drive NOW -

He was still shaking in the pub that night ! and he had not really been naughty just
a bit dis-organised


centralheatking

 

[peteheat]

LOL keep it simple just ask cash or cheque?

Cash deal Ahh leave it at a round £500 OK?

Cheque no problem leave it a round £500 OK?

Up to you to write an invoice with Cash Customer in the Name / Address box and keep all three copies.

Now comes the honesty test

To clarify:

There should be no difference between the cash or cheque amount.

In the event of a cash sale for a customer who thinks they escaped the VAT element you can write the invoice "Cash Sale"

The honesty test is down to you, will I write the Cash sale invoice or keep the cash in my pocket?

Remember it takes a lot work balancing your books if you start down the cash job route, Revenue are not stupid they know the
average material cost for most jobs so no point in assigning twice the number of fittings to all boiler installations expecting to
get away with claiming the VAT on purchases for jobs that don't have a paper trail.

Keep it honest a lot less work plus peace of mind.