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Have you ever noticed those little charges on your bills after you’ve had some work done on your house or your car? Do you find that you are often left wondering what it is? As a young family, we are often paying out for things from clothes to safety essentials to appliances. There is always something new needed or something needing fixing.
I wouldn’t say I am clueless when it comes to finances but VAT gets me in a right muddle. As a freelance writer and blogger, I often see VAT mentioned in emails and on invoices but as I am not yet a business but simply a sole trader, I am not yet registered – nor am I turning over anywhere near the threshold where I have to pay.
Vat Free
I am quite lucky in that the majority of things I buy such as children’s clothes and most food aren’t subject to VAT, meaning I don’t have to worry about working the charge out.
However, knowing as I do that some products and services come with a VAT charge, it is always handy to be prepared. We have had numerous car problems in the past and hadn’t factored in the VAT charge on top of the work so now we always make sure we have enough to cover that too. When it comes to these situations, it is handy to have a tool to help you with it – and I have found a fab one if you click here. This means that you can calculate exactly how much you will be paying for that work – and can budget accordingly.
When it comes to your finances, it is better to be prepared than have a shock. You can have the most perfect budget down to a tee but if you don’t factor in that VAT charge, you could find yourself in a slightly sticky situation. I know, I’ve been there and its not nice, especially if it leaves you short for something else.
Are you prepared with your budget when it comes to VAT or do you always get a shock? Do you think you’d be able to budget more accordingly with something to help you?
I've never considered VAT as a cost on top of what I have to pay – when I get a bill, it's the total amount I'd look at not the figure without the VAT. It's just part of the cost of living in this country.
Yep but I'm talking about the ballpark figures given by mechanics etc. My partner recently got quoted a certain price for something that needed doing on the car – the mechanic forgot to mention he needed to add VAT and hadn't added it yet so it was lucky my partner had enough – best to be prepared in those kind of cases before you see the bill as it could be embarrassing if you don't have enough.