Important Question

[mercato]

If I sell co.uk. domain do I have to charge VAT ?
What is a correct procedure?
My account told me that I don't have to charge VAT until my sales for the year are over 50 000 GBP but I don't know if he understand this business of buying and selling domains.
I hope someone can help me.

 

[olebean]

If I sell co.uk. domain do I have to charge VAT ?
What is a correct procedure?
My account told me that I don't have to charge VAT until my sales for the year are over 50 000 GBP but I don't know if he understand this business of buying and selling domains.
I hope someone can help me.

Mercato

What don't you think he understands

 

[russ]

If your sales of anything within the UK reach more than £61,000 in a year then you have to register for VAT. You can register for VAT before then though which can sometimes have benfits.

 

[mercato]

So if for example I have 10 domains and I sell these domains for 1000 GBP
each I don't have to charge each buyer VAT but if I sell these domains for
10 000 GBP each I would have to charge VAT ?

 

[paul]

So if for example I have 10 domains and I sell these domains for 1000 GBP each I don't have to charge each buyer VAT?

No you don't, and what's more, if you did it would be illegal. You can only charge VAT if you are registered for VAT.

but if I sell these domains for 10 000 GBP each I would have to charge VAT ?

No!!

If your turnover for the last 12 months ever reaches the threshold figure of about £60,000 you then have to register for VAT by law. Then once you have your VAT number you then have to charge VAT on sales after this date (there are exceptions though)



Paul




Car Breakdown Cover

 

[mercato]

Thank you for your answers