Autumn 2009 Newsletter Contents Tin Hats Required Trust In Money Beat The Hike Expenses A - Z On The Job Training Pay In Lieu Pension Pot Opportunity Knocks ISAy ISAy ISAy Fair Exchange? Scrappage The Value Of IR35 Loss And Profit End Of The Holidays Da Vinci Or PAYE? Last Orders Foreign Peril Quadruple Entry It's A Date All Change Good Health! O Lucky Man! Be Prepared An Inspector Calls SA Or Not SA? Now You're Asking I Only Work Here You Want It When? Dirty Laundry? No Smoke Without Fire Corporate Manslaughter

It's A Date When you are starting or growing a business, getting your VAT registration right is very important. If you register too early, you have to account for VAT on sales that could have been VAT-free. If you register later than the law requires, you can suffer a penalty. And you might want to register before you have to so that you can claim back VAT on start-up expenses. A couple of recent cases have shown that you can't change the date once you've sent the form in - traders lost out because they had incurred VAT too long before the date they put on their VAT 1 form, so they couldn't get it back. If you are not registered for VAT but you think you might have to or want to in the future, it's important to think carefully about the right date to pick. We will be happy to advise you.