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  1. R

    Surpassed £85,000 VAT threshold selling second-hand goods - how shall I go about managing the implications? 23 y.o total accounting novice.

    @coffeedrinker That's quite alright :), I rarely have anything to contribute on this sub so it's nice to be able to help! Regarding the transition to software, I'm honestly not too sure. There is a clear benefit to starting to use an accounting platform, but if you're still a bit unsure about...
  2. R

    Surpassed £85,000 VAT threshold selling second-hand goods - how shall I go about managing the implications? 23 y.o total accounting novice.

    @jarno Absolutely not, HMRC have been extremely slow for pretty much everything for ages. We've been waiting a similar amount of time for a VAT exemption on a liquidating company so it's a real mess!
  3. R

    Surpassed £85,000 VAT threshold selling second-hand goods - how shall I go about managing the implications? 23 y.o total accounting novice.

    @coffeedrinker Hi there @coffeedrinker I'm a trainee accountant from a national (not quite big 4 but we're in virtually every city) in the southwest and deal with a lot of sole traders such as yourself. Firstly, congratulations on running a business successful enough to even be close to the VAT...
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