Hi,
I've recently started locuming and am also confused about whether I should register as a limited company rather than self-employed which I am now. I'm unsure about VAT registration. I gather being VAT registered means I have to charge VAT on my services (as well as being able to claim it back on work related materials). So would I have to increase my hourly rate by 17.5% and are pharmacies okay with that? I know they can claim it back but is that the way it works or have I got it wrong?
Also I get paid cash in hand at ASDA pharmacies. I keep all receipts however I have used some of the money before I have paid it into my account. So less is going in on the statement than I have earned but I thought the receipts would be acceptable proof of what I have earned and so it's all okay. Or do you think that's bad.
Any helpful advice would be appreciated.
Thank you
