Sole proprieter advice please?

[saflyfish]

Hi
I have my own small business "my name" t/a "company name"
If i invoice a client what VAT number do i need,or do i use my personal tax number?
Please advise?

 

[SauRoNZA]

You don't charge them for VAT at all.

Unless you are VAT registered which I gather you are not. If you want to charge VAT you need to register for it.

 

[saflyfish]

Thanks
I dont charge for VAT.Do companies require that i be vat registered in order to pay me?

 

[SauRoNZA]

Depends on the company really. It would make it easier for everyone I figure.

 

[saflyfish]

Is that done through SARS?

 

[Fulcrum29]

The whole topic in hand is related to your turnover.

 

[Fulcrum29]

Is that done through SARS?

http://www.services.gov.za/services...ces/Tax/valueaddedtax/registrationofvat/en_ZA

You must register your business for Value Added Tax (VAT) if the total value of taxable goods or services is more than R1 million in a 12-month period, or is expected to exceed this amount.

A business may also register voluntarily if the income earned in the past 12-month period exceeded R50 000.

VAT is an indirect tax on the consumption of goods and services in the economy.

Registration:

http://www.sars.gov.za/ClientSegmen...ax/Pages/Register-and-Deregister-for-VAT.aspx

Should you be unsure with the paperwork, ask a bookkeeper, accountant etc. to assist you, the registration however must be done by you, the representative.

 

[saflyfish]

Thanks for all the advice guys
much appreciated!

 

[Frikkenator]

If you do more than R1m per annum then you must register for VAT. On the other hand you can only register for VAT if you have invoiced more than R50k in the last 12 months, you need to present the invoices as proof.

Have your accountants/bookkeepers do the submission if you want to register, alternatively use someone like Shelf Company Warehouse. It's just a lot easier as they will make sure the paperwork is in order.

 

[rrh]

Some companies insist on only dealing with suppliers registered for VAT.

OTOH, if you can get by without registering for VAT, I would recommend it: the paperwork can be fearsome !