In message <[log in to unmask]>, Chuck
Norton <[log in to unmask]> writes
>it would be advantageous
>to know of a few specialists, individuals or firms, that are knowledgeable
>of our industry.
In the EU, we have Value Added Tax (VAT). You pay tax on non-food items
and your customers have to pay you VAT which you collect for the Inland
Revenue. You set against this the tax you paid to buy things like jars
and equipment. If you register (and you have to if the business takes
more than a set amount) then as your income is often mostly honey sales,
your input VAT is larger than your output VAT - so you claim it back
from the Inland Revenue! I was advised to register, even though my
income is less than the limit as I am a sideliner. I was not taught this
on my business course. I am still thinking about it - you have to do a
more regular return which adds to the paper work and there are fines if
you are late.
--
James Kilty

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