[cma-l] VAT

[Phil Shep]

We have been registered for VAT since 98 and it has all the advantages
others have alluded to.  Be aware though that if your income generating
activities are or become mainly educational then you can find HMRC taking
the view that you have rendered yourself ineligible to charge or claim back
VAT.

This decision would be determined by monitoring inputs and outputs on a
quarterly basis and again at the end of the year.  So you need to be clear
about your aims and objectives and about what you can charge VAT on and what
you can't.  This is a complex area which doesn't usually apply but can do
under certain circumstances , so it's best to be aware.

Phil
Somerset Film