VAT on Sales?

[Stevo]

Desinandgift You'll get there mate

[Stevo]

Mrs Maggot: I'll go and see HMRC thanks. I don't think that site was complicated but I though. But yes the Mugs are expensive but to me that's a good thing if some people are putting out mugs for almost 20 quid, I can undercut them and make a good profit as well

I'm learning the basics that why I asked about VAT, I'm learning stuff all the time so don't worry I'll be OK thanks again for the advice.

[pisquee]

But yes the Mugs are expensive but to me that's a good thing if some people are putting out mugs for almost 20 quid, I can undercut them and make a good profit as well

When you get to 'designer' products, people aren't buying a mug, as it were, they are paying for the design, t have something of/from that designer. So comparisons for pricing can only really be compared to other designer products, it's a very different market from one-off personalised mugs. They are also usually of a higher price because of the shops they are wholesaled to, and the mark-up and logistic involved in supplying them.

[neilb]

For anyone who is vat registered, with a turnover under 225k then take a look at the 'simplified vat' scheme, we save about 5k per year and book keeping is simpler too!

I think it's under 150k turnover to get on the scheme.

[mrs maggot]

When you get to 'designer' products, people aren't buying a mug, as it were, they are paying for the design, t have something of/from that designer. So comparisons for pricing can only really be compared to other designer products, it's a very different market from one-off personalised mugs. They are also usually of a higher price because of the shops they are wholesaled to, and the mark-up and logistic involved in supplying them.

exactly, the only way you would "undercut them" would be if you were supplying the same product - now start looking up personalised mugs, and see the prices they sell for

[pisquee]

exactly, the only way you would "undercut them" would be if you were supplying the same product - now start looking up personalised mugs, and see the prices they sell for

We're in the 'designer' market, but only in the £10-£12 range for mugs as we're not well known enough to charge more (yet!) If you were a big enough designer brand to be charging and selling at the higher end of the scale, you wouldn't want to be undercutting anyone, as it just means less money. Unless there's another designer with similar work/style, then you can't be undercut or undercut, because It's the design people are paying for - not a mug.

[mrs maggot]

yep i agree with what you are saying my reply was for Stevo, as i fear he was not comparing like with like, unless of course he is an artist looking to sell his products,

[pisquee]

Yeah, was just continuing/elaborating for the OP, knew you were on same lines.

[Dave271069]

i believe if your starting from home from scratch then set it up as a hobby, let the hobby grow and then when you feel the time is right the business side can come next. ive been doing this two years now, the first year was spent building up a good customer base and taking it from there. everyone needs to start from somewhere and if you speak to many printing shops or units they all almost always say they started in a bedroom and out grew it,
Good-luck but remember don't run before you can walk.

[pisquee]

We started in a garden shed whilst living in a one bedroom flat and very much outgrew it!
(albeit, a very large shed, with full insulation, and electrics run in)