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Farm Business
Agricultural Matters
Tax Question?
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<blockquote data-quote="Rowland" data-source="post: 6637376" data-attributes="member: 79664"><p>Well I have had to buy everything I use and run and maintain it . It’s a costly business .</p><p>New processor is £20-£25 K add 20% to that and you soon become vat registered. </p><p>As you have no costs you can undercut everyone. But as you have no costs it’s all profits you in theory pay more income tax .</p><p>But I tell others is that I don’t understand why you sell cheeper than me as I sell a lot at my more expensive price. They could get more but for some reason they still sell, say a dumpy bag similar to mine for £45/£50 .Thats a fair bit less than me .</p></blockquote><p></p>
[QUOTE="Rowland, post: 6637376, member: 79664"] Well I have had to buy everything I use and run and maintain it . It’s a costly business . New processor is £20-£25 K add 20% to that and you soon become vat registered. As you have no costs you can undercut everyone. But as you have no costs it’s all profits you in theory pay more income tax . But I tell others is that I don’t understand why you sell cheeper than me as I sell a lot at my more expensive price. They could get more but for some reason they still sell, say a dumpy bag similar to mine for £45/£50 .Thats a fair bit less than me . [/QUOTE]
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