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hex74726176
Joined: Oct 28, 2004
# Posts: 57
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Posted: 2004-Nov-02 13:36
Hi all,
I'm new to adwords and am still determining whether this will be a profitable business for me.
One thing I've noticed in clickbank is that they require a VAT number.
Since I don't have one I just clicked I don't have one and VAT get's taken out anyway. Similarly with my adwords account does anyone know how VAT affects it, and what the merits are of registering as a business or not?
Thanks,
Travis
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hex74726176
Joined: Oct 28, 2004
# Posts: 57
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Posted: 2004-Nov-02 13:37
I should ad I live in London and this may only affect English or Europeans.
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flyingrose
Staff
Joined: Oct 30, 2003
# Posts: 3361
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Posted: 2004-Nov-02 19:54
I have only a vague understanding of your complex VAT rules so am unable to assist you with this; however, I will see if I can find someone in the UK who is more familiar.
I believe that VAT is taken out automatically if you do not have or do not provide your VAT number.
If you do have a VAT number I am unclear on whether they then do not take it automatically or you can apply to have it refunded or both.
I know it is complex and the only time I've dealt with it the person's accountant handled that aspect of the sale.
Some discussions which may help are:
Vat to Rise on Google's Paid Placements
Google & VAT
New EU Law Burst Dot-Com Tax Bubble
Tax Issues
GoToUK [Not specifically about VAT but may have useful information]
NOTE that the above references may be dated and circumstances may have changed since they were posted.
[ Message was edited by: flyingrose 11/02/2004 02:47 pm ]
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g1smd
Staff
Joined: Jul 28, 2002
# Posts: 10465
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Posted: 2004-Nov-02 22:23
You can register for VAT only if your turnover is more than some threshold around GBP 55 000 per year I believe.
Umm, at that level, you have to register.
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PCInk
Joined: Sep 13, 2001
# Posts: 479
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Posted: 2004-Nov-03 16:39
You can register for VAT at any time, any turnover. After 55000 you MUST register for VAT.
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hex74726176
Joined: Oct 28, 2004
# Posts: 57
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Posted: 2004-Nov-04 07:30
Thanks guys.
I'll check out what's involved in registering for VAT and see if it's worth my while. I'm an Australian living in London on a sponsored visa so that might create even more issues.
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