Man and tractor price??

[John 1594]

If you're turning over reasonable money it must work out better to be vat registered? Losing 20% off machinery and 20% off parts plus 20% off fuel? Unless you buy at the 5% rate?

What machinery and parts do i buy though....a lot of the stuff i use is already in stock, having been bought non vat from clearance sale...some parts are made in house, all our new steel comes from the local scrapyard, who in turn gets it as offcuts from local engineering firms. I simply swap a percentage of rusty old shite for a few lenghts of nice new steel

We only ever order 1000L of fuel at a time, being as close to town as we are, it has a habit of going walkies, although havent had any go for a while as i tend to keep the tank empty until i need it

Most machinery is bought non vat, usually for scrap price, time is invested in it and its book value normally quadruples

 

[stevedave]

Why would i need to, last big purchase for me was 10 years ago when the 15 arrived. Bought plenty of smaller stuff since, mostly bought as written off the books and sold for scrap price

time is the cheapest investment in the world, spend 500 quid on say a set of worn out and knackered rolls what really need cutting up, a few days time and repairs and all of a sudden they are worth a couple of thousand

Time is only cheap if you have plenty of it.

 

[rs1]

What machinery and parts do i buy though....a lot of the stuff i use is already in stock, having been bought non vat from clearance sale...some parts are made in house, all our new steel comes from the local scrapyard, who in turn gets it as offcuts from local engineering firms. I simply swap a percentage of rusty old shite for a few lenghts of nice new steel

We only ever order 1000L of fuel at a time, being as close to town as we are, it has a habit of going walkies, although havent had any go for a while as i tend to keep the tank empty until i need it

Most machinery is bought non vat, usually for scrap price, time is invested in it and its book value normally quadruples

What machinery and parts do i buy though....a lot of the stuff i use is already in stock, having been bought non vat from clearance sale...some parts are made in house, all our new steel comes from the local scrapyard, who in turn gets it as offcuts from local engineering firms. I simply swap a percentage of rusty old shite for a few lenghts of nice new steel

We only ever order 1000L of fuel at a time, being as close to town as we are, it has a habit of going walkies, although havent had any go for a while as i tend to keep the tank empty until i need it

Most machinery is bought non vat, usually for scrap price, time is invested in it and its book value normally quadruples

Each to there own, it depends how you value your time.

 

[Shane s]

Why would i need to, last big purchase for me was 10 years ago when the 15 arrived. Bought plenty of smaller stuff since, mostly bought as written off the books and sold for scrap price

time is the cheapest investment in the world, spend 500 quid on say a set of worn out and knackered rolls what really need cutting up, a few days time and repairs and all of a sudden they are worth a couple of thousand

You've got the same kind of mind as me. I'm not VAT registered however I most likely will in years to come. I'd rather buy cheaper machinery and start and do small repairs or even to run down and respray certain things. To me my time in the dark evening costs me nothing and then the tractor/ machine will be worth quite a bit more when your done

 

[James]

If you're turning over reasonable money it must work out better to be vat registered? Losing 20% off machinery and 20% off parts plus 20% off fuel? Unless you buy at the 5% rate?

Careful! Don't have @John 1594 thinking you're telling him what he should be doing

 

[Turra farmer]

Thats a decision for me and my accountant to make

Not you.

Every year i ask the question is it worth going vat registered, his reply is that while my customer base consists of the people it does, it will lose me customers and cost me more money than il get back

I think il take his advice over yours on that one.

Don't you have to register for vat if turnover is over 80k ?

 

[james ds]

Don't you have to register for vat if turnover is over 80k ?

I'd say John is dead safe. Well under 80 k turnover ,

 

[Wellytrack]

Careful! Don't have @John 1594 thinking you're telling him what he should be doing

John is like TFF's very own Donald Trump Twitter feed.

 

[smcapstick]

John is like TFF's very own Donald Trump Twitter feed.

He gets a bit of stick (and gives it out, too) but he does know his onions.

 

[rs1]

Careful! Don't have @John 1594 thinking you're telling him what he should be doing

Of course I'm not, if he's happy throwing his money away who am I to try and stop him

 

[ARW]

I've had the vat question before with some lads, they believe it's cheaper for the customer and yes they suit the private customers very much but they surely have to charge more to cover the 20% of vat charged on everything from work clothes to machinery that they don't get back?

 

[Thick Farmer]

I've had the vat question before with some lads, they believe it's cheaper for the customer and yes they suit the private customers very much but they surely have to charge more to cover the 20% of vat charged on everything from work clothes to machinery that they don't get back?

Depends on your customer base. I find it very disadvantageous when working for private householders as there will be others that are 20% cheaper than me.

 

[ARW]

Depends on your customer base. I find it very disadvantageous when working for private householders as there will be others that are 20% cheaper than me.

Vat is just to much! Should be 5%

 

[Wellytrack]

He gets a bit of stick (and gives it out, too) but he does know his onions.

Not saying he doesn't, I have never dismissed that.

 

[John 1594]

John is like TFF's very own Donald Trump Twitter feed.

That makes you the TFF equivalent of Hilary Clinton then?

 

[Wellytrack]

That makes you the TFF equivalent of Hilary Clinton then?

How's that now?

 

[John 1594]

Depends on your customer base. I find it very disadvantageous when working for private householders as there will be others that are 20% cheaper than me.

Couple of my customers refuse to have a man on the premises if they are going to charge VAT


for that reason i was to be found re-instating a man hole cover for them just before christmas.....as they couldnt find anyone else to do it on a days notice who wouldnt charge VAT

 

[John 1594]

How's that now?

Im making a wild guess

same as you

 

[John 1594]

Each to there own, it depends how you value your time.

Simple...a days wage to drive someone elses tractor...£12/hr x 10hrs....£120

Spend a day replacing the bearings on a set of rolls and give them a coat of paint, put new lights on etc. The value you have added to the rolls exceeds the £120 you would have earned on someone elses tractor. Even taking into account cost of parts, you have gained a lot more than £120

 

[rs1]

Simple...a days wage to drive someone elses tractor...£12/hr x 10hrs....£120

Spend a day replacing the bearings on a set of rolls and give them a coat of paint, put new lights on etc. The value you have added to the rolls exceeds the £120 you would have earned on someone elses tractor. Even taking into account cost of parts, you have gained a lot more than £120

I don't follow what you mean? Who's rolls? Yours? or someone else's?