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I know of companies that do it. But I would say no.
Discuss Vat registered? What's today? in the Plumbing Jobs | The Job-board area at PlumbersForums.net
Bull s--- to me you bought the materials did the work for a price which you both agreed on , they paid you that price less the 20% paid to CIS ? and for the materials you spied yes , you are not vat registered so cannot claim vat back on the materials and they didn't supply the materials they used your credit to get the work done so cannot claim it either . Kop
I know of companies that do it. But I would say no.
This is really down to you and how you run your own business.
In our case we purchase materials, add a mark up and then those materials - along with the Labour element - are invoiced to the customer with the VAT added on top.
Our customers do not get to see (or ask) to see the invoices and receipts we are issued.
If you are subcontracting and also require being reimbursed with money for the goods you provide, then a VAT registered company selling those goods on, would need the receipts in on time to claim the the VAT back in the right VAT quarter.
Obviously I don't know what amount you are talking about but if they invoice the customer plus VAT yet don't have a receipt to claim back on then the full VAT amount of invoiced goods would have to be paid over to the revenue. That way they could lose out, unless they can claim it in the next quarter. Even if they can, they would be that difference down until the quarter is over.
Does that make sense?
If you want to keep them sweet and they want to claim the vat back. I would let them buy the parts.100% with KOP there. You are effectively being backmailed into (what I feel is) fraudulant activity. Just remember. If you participate YOU are as guilty as they in the eyes of the law. YOU have ZERO excuse I'm afraid.
Get formal advice NOW.
Reply to Vat registered? What's today? in the Plumbing Jobs | The Job-board area at PlumbersForums.net
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