N
namsag
Tonyboy i was not having a go at you personally but at the holier than attitude of some people who think there little fiddles don`t count and can preach to others.
Invoicing
- Thread starter Jamkaw
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Namsag, Namsag, Namsag,
"There are non so blind as those who will not see"
"Some of us" have been in business for far longer than you and have experience in life and with such matters.
You will only earn experience with time. Only then will you be in a position and able to give sound advise such as "some of us".
You appear to be very clever and refute any help and advise, saying that some are "holier than". Of course some of us have taken cash on occasions and not declared it. I declare certain amount of cash every year in my tax return.
Good luck to you.
Have lots more sound advise for you but I will not make any further comments about this subject.
No thanks needed.
AJayGee
"There are non so blind as those who will not see"
"Some of us" have been in business for far longer than you and have experience in life and with such matters.
You will only earn experience with time. Only then will you be in a position and able to give sound advise such as "some of us".
You appear to be very clever and refute any help and advise, saying that some are "holier than". Of course some of us have taken cash on occasions and not declared it. I declare certain amount of cash every year in my tax return.
Good luck to you.
Have lots more sound advise for you but I will not make any further comments about this subject.
No thanks needed.
AJayGee
N
namsag
So you declare some cash on your tax return.
Well you must have a completely different tax return from me as mine does not ask wether i have collected cash/cheque or whatever it only asks how much money i have collected.
And a bit contradictory as you previously said never admit to taxman you take cash.
Why would a business never take cash not everyone has bank accounts and there is still a lot of people who like to deal in cash for whatever reason. Only law i know about taking cash is anything over 10k approx taken in one go must be reported in case of mony laundering
No thanks given as you have not answered a single point.
Well you must have a completely different tax return from me as mine does not ask wether i have collected cash/cheque or whatever it only asks how much money i have collected.
And a bit contradictory as you previously said never admit to taxman you take cash.
Why would a business never take cash not everyone has bank accounts and there is still a lot of people who like to deal in cash for whatever reason. Only law i know about taking cash is anything over 10k approx taken in one go must be reported in case of mony laundering
No thanks given as you have not answered a single point.
Just one recipe for a successful business:
Train up under a first class trades person.
Learn your trade thoroughly.
When fully competant, and confident enough, only then become self-employed.
Advertise and offer yourself and your expertise to the world.
Design logo and image for your company and show this on your van(s), invoices, stationary, cards etc.
Join trade organisations and show their logo's on your livery and your stationary.
Offer the best service and advise for miles around and endeavour to be the best at what you do.
Be proud of who and what you are and shout it to the world.
Provide accurate estimates / quotes.
Agree extras as you go along and get agreement in writing.
Fully respect your customers and provide them with a proper and professional package.
Notify the taxman that you are in business. They will help you set up properly.
Obtain all receipts of your income and expenditure and keep good records for seven years minimum.
Purchase a good computer based accounts package such as 'Sage accountant plus' or similar.
Obtain the services of a reputable accountant (most important).
Become VAT registered as soon as threshhold looks likely to be reached.
Claim VAT back on all business purchases.
Purchase materials through the business, add a good percentage, for profit, and claim all VAT back for the company.
Do not let customers purchase materials as they cannot claim back the VAT in most circumstances. Some types of work are VAT reduced or nil in some cases. They will lose out then.
Send accurate invoices promptly.
Offer a good guarantee of your work.
Be more ambitious.
Expand your business when right to do so.
Become a Limited Company if the tax savings are suitable enough at the time.
See how your company becomes more valuable year by year and sell it one day when you become to old to carry on as you are.
Always take advise from professionals who know what they are talking about.
Your never too old to learn.
Just to know you have read this is thanks enough.
Train up under a first class trades person.
Learn your trade thoroughly.
When fully competant, and confident enough, only then become self-employed.
Advertise and offer yourself and your expertise to the world.
Design logo and image for your company and show this on your van(s), invoices, stationary, cards etc.
Join trade organisations and show their logo's on your livery and your stationary.
Offer the best service and advise for miles around and endeavour to be the best at what you do.
Be proud of who and what you are and shout it to the world.
Provide accurate estimates / quotes.
Agree extras as you go along and get agreement in writing.
Fully respect your customers and provide them with a proper and professional package.
Notify the taxman that you are in business. They will help you set up properly.
Obtain all receipts of your income and expenditure and keep good records for seven years minimum.
Purchase a good computer based accounts package such as 'Sage accountant plus' or similar.
Obtain the services of a reputable accountant (most important).
Become VAT registered as soon as threshhold looks likely to be reached.
Claim VAT back on all business purchases.
Purchase materials through the business, add a good percentage, for profit, and claim all VAT back for the company.
Do not let customers purchase materials as they cannot claim back the VAT in most circumstances. Some types of work are VAT reduced or nil in some cases. They will lose out then.
Send accurate invoices promptly.
Offer a good guarantee of your work.
Be more ambitious.
Expand your business when right to do so.
Become a Limited Company if the tax savings are suitable enough at the time.
See how your company becomes more valuable year by year and sell it one day when you become to old to carry on as you are.
Always take advise from professionals who know what they are talking about.
Your never too old to learn.
Just to know you have read this is thanks enough.
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In canada all invoices must show your registration tax numbers proving you are not a fly by night company.
N
namsag
1. Didn`t learn under just one person learnt the best bits from around 30 guys that way you are not limited by one persons limited knowledge
2.By learning from so many people and at the time the best company in the business for training people ,done that
3.Done 22 years and was regarded as one of the best by my peers and customers specifically asking for me.
4.Know need to advertise myself as customers beating path to my door and willing to wait several months for me to do there job.
5. No need for logo as my name is so well known within my trade and area of work everyone already knows it.
6. Have to join trade organization otherwise i would not be able to do my job and customers know i am registered
7.I do and i am
8. Proud of how good i am and know need to shout it my customers do that for me thus generate my work
9. A quote has to be precise as it is a legal document
10.Extras why charge unless it is something stupid . It is called customer satisfaction.
11. Respect every customer . They already have called me because of my professional approach to my work and their needs.
12.It is illegal not to inform taxman within 3 months of setting up otherwise they fine you £100. They send you a standard package so not actually helping you as an individual.
13 . Basic tells you that in package they send but doesn`t say you must invoice customer, but must have receipts of what you have purchased.
14. If you are no use at basic mental arithmetic a computer may help.
15. Get an accountant , basic they know what can be claimed for or not.
16. Vat registered if hit threshold , the law.
17. If your VAT registered , obvious.
18. Why LIE to customer that parts cost more than they did (unprofessional) if you want to make X amount be honest about it.
19. Although vat registered companies claim vat back do they give the customer this saving or pocket it as extra profit. So customer does not benefit who buys materials . So it does not matter if customer buys materials and even if vat is lower on some products ie %5 on energy efficient products this is still dearer than NO vat charged.
20. If you are good at your job and have given customer satisfaction and what they have asked for , there is no need to send a prompt invoice as they will pay you on completion before you have left house.
21. Minimum 2 year g`tee and free simple repairs after this even when not associated with what you have done is an excellent g`tee.
22. Be more ambitious . If it suits you but if you are already making an excellent living and only cruising along with mortgage already paid and over 6 figures in the bank why bother. Enjoy life.
23.As above
24. Tax loop hole that thousands have paid for and now being closed by government and going to cost people more money.
25. If you want your company to go in that direction , you would be foolish not to. But if you have the financial acumen to make more money else where concentrate on that.
26. If you think the person is talking sense in regards to your business or situation ,then listen but not if they are full of ....
27. Everyday is a learning curve which is why we stay at the top of our game.
Read and still nothing relates to how i give the customer the first clash job they pay me for. BUT thanks for your time i could not be bothered watching United either/
.
One question you have been in business since 73 so 35 years. iIdoubt you started your business at 16 prob around the age of 26 earliest so why have you not practised what you preach and grown your business enough to retire around the age of 60 and still working on the last leg down to normal retirement. I know i wont be working at that age or close to it and you are trying to give me advice, something doesn`t add up.
Other thing that doesn`t add up is you suddenly appear and only post on this topic which is a strange subject to just come across by chance which would suggest you are a regular on these boards and not brave enough to respond under you regular name.
2.By learning from so many people and at the time the best company in the business for training people ,done that
3.Done 22 years and was regarded as one of the best by my peers and customers specifically asking for me.
4.Know need to advertise myself as customers beating path to my door and willing to wait several months for me to do there job.
5. No need for logo as my name is so well known within my trade and area of work everyone already knows it.
6. Have to join trade organization otherwise i would not be able to do my job and customers know i am registered
7.I do and i am
8. Proud of how good i am and know need to shout it my customers do that for me thus generate my work
9. A quote has to be precise as it is a legal document
10.Extras why charge unless it is something stupid . It is called customer satisfaction.
11. Respect every customer . They already have called me because of my professional approach to my work and their needs.
12.It is illegal not to inform taxman within 3 months of setting up otherwise they fine you £100. They send you a standard package so not actually helping you as an individual.
13 . Basic tells you that in package they send but doesn`t say you must invoice customer, but must have receipts of what you have purchased.
14. If you are no use at basic mental arithmetic a computer may help.
15. Get an accountant , basic they know what can be claimed for or not.
16. Vat registered if hit threshold , the law.
17. If your VAT registered , obvious.
18. Why LIE to customer that parts cost more than they did (unprofessional) if you want to make X amount be honest about it.
19. Although vat registered companies claim vat back do they give the customer this saving or pocket it as extra profit. So customer does not benefit who buys materials . So it does not matter if customer buys materials and even if vat is lower on some products ie %5 on energy efficient products this is still dearer than NO vat charged.
20. If you are good at your job and have given customer satisfaction and what they have asked for , there is no need to send a prompt invoice as they will pay you on completion before you have left house.
21. Minimum 2 year g`tee and free simple repairs after this even when not associated with what you have done is an excellent g`tee.
22. Be more ambitious . If it suits you but if you are already making an excellent living and only cruising along with mortgage already paid and over 6 figures in the bank why bother. Enjoy life.
23.As above
24. Tax loop hole that thousands have paid for and now being closed by government and going to cost people more money.
25. If you want your company to go in that direction , you would be foolish not to. But if you have the financial acumen to make more money else where concentrate on that.
26. If you think the person is talking sense in regards to your business or situation ,then listen but not if they are full of ....
27. Everyday is a learning curve which is why we stay at the top of our game.
Read and still nothing relates to how i give the customer the first clash job they pay me for. BUT thanks for your time i could not be bothered watching United either/
.
One question you have been in business since 73 so 35 years. iIdoubt you started your business at 16 prob around the age of 26 earliest so why have you not practised what you preach and grown your business enough to retire around the age of 60 and still working on the last leg down to normal retirement. I know i wont be working at that age or close to it and you are trying to give me advice, something doesn`t add up.
Other thing that doesn`t add up is you suddenly appear and only post on this topic which is a strange subject to just come across by chance which would suggest you are a regular on these boards and not brave enough to respond under you regular name.
Not a regular.
First time user in fact.
Did come upon this site by accident as you can see by my postings.
Thought that I would be talking to like minded professionals.
You get so many things wrong.
Another tip - use spell checker!
First time user in fact.
Did come upon this site by accident as you can see by my postings.
Thought that I would be talking to like minded professionals.
You get so many things wrong.
Another tip - use spell checker!
N
namsag
Funny how people who lose an argument always respond by saying us spell checker, other than g`tee which is used widely on this site there was only one obvious double hit of a key but i apologise if it made it hard for you to read .I will type slowly in future if this helps you.
So what are all these things i have got wrong.
You made points i countered them, are you not used to be spoken back to and are tend to spit the dummy.
Because a method of working suits you it doesnt mean you are right or wrong or the other person is right or wrong it is horses for courses. basic
Are you not able to argue your own case for still being in business after so long, and not being able to build it enough to sell it on which you seem to think is an important thing to do.
And can you answer point of where you claim cash seperatly on the tax form/
.
How can i see by your postings that you came across this site by accident, if your on about only 5 replies then this doesn`t wash as several people on here registered under several names. Thousands of topics on this site and someone with strong views and opinions only replies to this subject
So what are all these things i have got wrong.
You made points i countered them, are you not used to be spoken back to and are tend to spit the dummy.
Because a method of working suits you it doesnt mean you are right or wrong or the other person is right or wrong it is horses for courses. basic
Are you not able to argue your own case for still being in business after so long, and not being able to build it enough to sell it on which you seem to think is an important thing to do.
And can you answer point of where you claim cash seperatly on the tax form/
.
How can i see by your postings that you came across this site by accident, if your on about only 5 replies then this doesn`t wash as several people on here registered under several names. Thousands of topics on this site and someone with strong views and opinions only replies to this subject
Then your customers are naive or fools.
I would want a breakdown of costs for the work performed and a receipt for my payment.
What happens if my house falls down after a tradesman has done some poor work? Tradesmans says "wasn't me, prove it."
Insurance says it's my fault and won't pay. Who do I sue?
Also, I may need to declare the payment as a business expense for my returns.
It's because people like you cheat the system, and hide money that tax is so expensive for the rest of us but that is another thread entirely.
N
namsag
No my customers are intelligent people who choose the best heating engineer about after consulting friends family and my previous customers their opinion which i respect .
There would be no question of who to sue as my work is first class and if that is one of your main worries you must use the cheapest of the cheap and suspect something may go wrong your problem not mine.
What business are you in or are you a landlord
If people want or ask for a receipt they get one but majority just say no need.
Obviously if a customer needed one for tax returns they would have one .
And don`t think because receipt not given or thousands in cash taken its not declared.
Yet again i take it you are another holier than thou and not using works time or the business computer to respond to this topic and never claim a single bit of private mileage etc etc.
Weird how some people say i should go VAT registered etc so i can claim money back off tax man thus effectively me paying less money into the exchequer then criticizing for the odd little fiddle that the vast majority do.
There would be no question of who to sue as my work is first class and if that is one of your main worries you must use the cheapest of the cheap and suspect something may go wrong your problem not mine.
What business are you in or are you a landlord
If people want or ask for a receipt they get one but majority just say no need.
Obviously if a customer needed one for tax returns they would have one .
And don`t think because receipt not given or thousands in cash taken its not declared.
Yet again i take it you are another holier than thou and not using works time or the business computer to respond to this topic and never claim a single bit of private mileage etc etc.
Weird how some people say i should go VAT registered etc so i can claim money back off tax man thus effectively me paying less money into the exchequer then criticizing for the odd little fiddle that the vast majority do.
Accidents happen. It is only prudent to be proteceted. An invoice and reciept records the transaction. Those documents also help you prove your business transactions.
Doesn't matter. I would want receipts for any major works to provide to a future purchaser of a house. This would show the work was carried out professionally and offer them some security / peace of mind.
FYI I am using my business computer which is used for personal use as well. This is clearly identified by an apportion of expense on my tax return. As for milage, I record every business mile and retain all receipts for fuel. That is just due dilligence.
VAT is effectivly transparent. If you are as sucessful as you claim, you must be VAT registered.
Please don't tarnish us with your brush. The vast majority follow HMRC rules and have perfectly clear consciences.
N
namsag
So you sit there and work out exactly the amount of minutes you can sit on computer without running into your not declared time, you must have too much time on your hands.
I am so glad you highlighted everything i said as i may have forgot
Yes accidents will happen which is what public liability insurance is about but in 29 years i have had 2 accidents the last being around 15 years ago. And have never claimed on my liability. Which is excellent after doing more than 40,000 jobs
And i can see why you think they may happen anyone who thinks glueing copper pipes is better than soldering is just waiting for an accident.
And as for keeping every business mileage eh thats what you are meant to do and with receipts i applaud you on your ability to not even do one mile over what you are claiming .
Why must i be VAT registered 2 off us working together on big jobs both separate companies give us a VAT threshold of around 130k very easy to keep away from that which would encircle your comment about customer knowing costs involved as i will allow them to buy materials in their name and they they know labour charge involved.
That way keeping away from VAT ,why should i waste my time doing time consuming paperwork.
Simple i make money because i am good at what i do and enjoy it i did not go into business to build a big company etc etc i done it to enjoy life i work no more than 40 weeks a year and take time to enjoy life.
Being from Edinburgh you will find that a hard concept.
As the old saying goes there is more life in a Glasgow funeral as there is in an edinburgh wedding.
And to just for when question arises reason why i am able to answer, is i have took myself out for next 2 weeks to chill . And still earned £675 for one day this week on an urgent job for a landlord who funny enough got a receipt
I am so glad you highlighted everything i said as i may have forgot
Yes accidents will happen which is what public liability insurance is about but in 29 years i have had 2 accidents the last being around 15 years ago. And have never claimed on my liability. Which is excellent after doing more than 40,000 jobs
And i can see why you think they may happen anyone who thinks glueing copper pipes is better than soldering is just waiting for an accident.
And as for keeping every business mileage eh thats what you are meant to do and with receipts i applaud you on your ability to not even do one mile over what you are claiming .
Why must i be VAT registered 2 off us working together on big jobs both separate companies give us a VAT threshold of around 130k very easy to keep away from that which would encircle your comment about customer knowing costs involved as i will allow them to buy materials in their name and they they know labour charge involved.
That way keeping away from VAT ,why should i waste my time doing time consuming paperwork.
Simple i make money because i am good at what i do and enjoy it i did not go into business to build a big company etc etc i done it to enjoy life i work no more than 40 weeks a year and take time to enjoy life.
Being from Edinburgh you will find that a hard concept.
As the old saying goes there is more life in a Glasgow funeral as there is in an edinburgh wedding.
And to just for when question arises reason why i am able to answer, is i have took myself out for next 2 weeks to chill . And still earned £675 for one day this week on an urgent job for a landlord who funny enough got a receipt
That's a proper way of doing this. Also, and I've been trying to tell that to a good friend of mine - a plumber, if he buys the materials and it's not possible to have it done in client's name to make sure his clients pays for materials as soon as he delivers him. Cash-flow is King, for large corporations but even more for small businesses.
N
namsag
Here is an example from last week on how to keep away from VAT and how to give customer satisfaction. Doing a CH install customer ,hands me a brochure and says this is the fire we would like but its a bit dear £1100 could you get it a bit cheaper and order it for us we can stretch to a £1000.
Now i had built into heating price £100 to go back and fit fire when it came.
so 10 minutes on internet and 5 mins on phone i get fire for £800.
Next day phone from customers house with there credit card fire ordered they are over the moon (don`t know how to spell extatic) as i have got the fire £300 cheaper .
And i have £100 going through books instead of £900 times that by a number of jobs and it soon adds up plus the biggest bonus that customer has told everyone they work with what a great guy i am etc etc. Work flows in didn`t make a penny on fire but make a fortune on future work with no money spent on advertising.
Now i had built into heating price £100 to go back and fit fire when it came.
so 10 minutes on internet and 5 mins on phone i get fire for £800.
Next day phone from customers house with there credit card fire ordered they are over the moon (don`t know how to spell extatic) as i have got the fire £300 cheaper .
And i have £100 going through books instead of £900 times that by a number of jobs and it soon adds up plus the biggest bonus that customer has told everyone they work with what a great guy i am etc etc. Work flows in didn`t make a penny on fire but make a fortune on future work with no money spent on advertising.
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