[pete-p]

Originally Posted by sarg

Is being VAT registered a sign of a successful business?? Or is it just an indicator that your turnover has exceeded an arbitary amount? That's turnover, not profit!!!

That's the thing, some businesses will register for VAT so they look more successful, some prefer not to (but then can't reclaim input VAT costs either) and others have turnover exceeding a specific amount!

I don't run a business but if I did would want to make maximum profit, for myself and also to reinvest. I'm sure there are plenty of risks running second hand car sales too with fraud, dodgy motors on PX etc.,