Howdy,virgin poster,go easy
I've done a good bit of searching but nothing too similar to my situation.
Im starting off as a sole trader (mechanic).
I need to buy a van and say about 6-7k worth of equipment.
I also plan to sell some service/basic parts that i would be buying from a motorfactors or wholesaler,it would tie in with the work i do.
Question is do i register for vat and save myself some money at the beginning where i have to buy the equipment/parts etc?
I don't expect to go over the threshold,certainly in the first year.
I wasn't going to register at all but started thinking that maybe i should,im really confused,any help would be greatly appreciated,thanks.
I've done a good bit of searching but nothing too similar to my situation.
Im starting off as a sole trader (mechanic).
I need to buy a van and say about 6-7k worth of equipment.
I also plan to sell some service/basic parts that i would be buying from a motorfactors or wholesaler,it would tie in with the work i do.
Question is do i register for vat and save myself some money at the beginning where i have to buy the equipment/parts etc?
I don't expect to go over the threshold,certainly in the first year.
I wasn't going to register at all but started thinking that maybe i should,im really confused,any help would be greatly appreciated,thanks.