helion xq38f best price

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whitehackle
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helion xq38f best price

Postby whitehackle » 15 Oct 2017, 17:49

I am looking to buy the helion xq38f. where is the best place to buy one from? I have contacted mini magnum but I need a vat receipt as I can claim the vat back.

Thanks

Nuggs123
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Re: helion xq38f best price

Postby Nuggs123 » 16 Oct 2017, 06:31

Hi,I paid full rrp for my xq38f because the dealer was just down the road from me and being such a high cost item I can take it straight to them if any problems occur rather than have the worry and cost of posting to far away sellers for repairs etc as these items do have occasional faults ! So my advice is find nearest dealer to you and buy at their selling price rather than save a few £s from someone across the other side of the country. Mike

phoenix
BRUCE ALMIGHTY
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Re: helion xq38f best price

Postby phoenix » 16 Oct 2017, 08:45

Try Blackwood Outdoors - they may give 10% discount
http://www.blackwoodoutdoors.co.uk/puls ... -monocular

Cheers

Bruce
LAND ROVER - THE WORLD'S WORST 4X4 BY FAR

pav
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Re: helion xq38f best price

Postby pav » 16 Oct 2017, 09:44

Mini magnum is Blackwood outdoors bruce

phoenix
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Re: helion xq38f best price

Postby phoenix » 16 Oct 2017, 10:37

pav wrote:Mini magnum is Blackwood outdoors bruce



Pav,
Thanks. I didn't know that.

Whitehackle,
Why can't he give you a VAT receipt?
I've been a VAT registered trader for more than 20 years and this is my understanding of the basic operation of the system.
If you're not VAT registered, you can neither charge VAT on what you sell nor reclaim VAT on what you buy
If you are VAT registered, you must charge VAT on what you sell (within the UK) and can claim back any VAT paid (within the UK)
If it's because he's not registered for VAT, then he shouldn't be charging VAT on stuff he sells.
Since the selling price for an XQ38F seems to be £2089 including VAT, he should be selling them for about £1740.
My apologies, if I've got this wrong and there's another explanation of why you can't get a VAT receipt.

Cheers

Bruce
LAND ROVER - THE WORLD'S WORST 4X4 BY FAR

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Mini Magnum
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Re: helion xq38f best price

Postby Mini Magnum » 16 Oct 2017, 12:28

You have this wrong Bruce.

If your VAT registered then anything you buy from another VAT registered company you pay VAT and then claim the VAT back on this, then when you come to sell you charge VAT on this and pay this VAT back to HMRC.

If your not VAT registered then whatever you buy, you pay the VAT on and you cannot claim it back, you then sell something and you do not charge VAT on this.

After a certain turnover it is mandatory to be VAT registered, being VAT registered a company actually makes less profit on an item it sells.

As a random example...

i.e you pay £1000 for an item exc VAT, £1200 inc VAT, you claim £200 back, then say you sell for £2000 inc vat, but you have to pay HMRC the 20% VAT back on the sale, so your profit is £600

If your not VAT registered.

For the same item you would pay £1200 inc vat and could not claim anything back, so initial cost is higher, but then you sell it for £2000 and pay no VAT to HMRC your profit is £800

Hope that is easier to understand.

phoenix
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Re: helion xq38f best price

Postby phoenix » 16 Oct 2017, 13:45

I don't think I've got it wrong, our descriptions of how the VAT process works are the same
If you're VAT registered, you pay VAT on purchases from VAT registered businesses, charge VAT on your sales and, if the VAT you charge is more than the VAT you paid, then you pay the difference to HMRC. If it's less then HMRC pay you the difference
If you're not VAT registered, you still pay it on purchases from VAT registered businesses, but can't claim it back, and you don't have to charge it your sales.
The numbers in your random example are not quite correct
Something sold for £2000 inc VAT is actually £1666.67 +£333.33 VAT so the profit would actually be £666.67 and HMRC would get £133.33 - that being the difference between the £333.33 VAT you charged and the £200 VAT you paid.
You're absolutely correct that in the example you gave, there's more profit to be made by not being VAT registered.
Don't take this the wrong way, but your selling price without VAT is the same as other sellers who are charging VAT - which means you're making more profit from the sale.
I have to say that's quite a clever business model, and that higher profit margin gives you a bit of leeway to discount your prices.
Having said that, you can't sell too much kit or your sales would exceed the VAT registration threshold, when you'd have to start charging VAT.

Cheers

Bruce
LAND ROVER - THE WORLD'S WORST 4X4 BY FAR

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Mini Magnum
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Re: helion xq38f best price

Postby Mini Magnum » 16 Oct 2017, 14:27

£2000 minus 20% vat is £1600, offset from a £1200 inc vat purchase gives

Purchase Price £1000 + £200 VAT
Sale Price £2000 - 20% VAT = £1600
£400 Sale VAT - Offset Purchase VAT = £200 VAT to pay
£600 Profit.


VAT registration is probably not far away anyway Bruce. The distributors set the RRP prices and maintain this rigorously, as they keep on top of huge price drops , devaluing brands and don’t allow eBay sales.

phoenix
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Re: helion xq38f best price

Postby phoenix » 16 Oct 2017, 15:13

Sorry, but on a sale price of the £2000 including VAT, the VAT exclusive price is £1666.67 and 20% of that is £333.33
The total of those elements 2 is £2000
Have a look at this page from the HMRC website http://webarchive.nationalarchives.gov. ... lating.htm
For VAT at 20% the "VAT Fraction" is 1/6
To calculate the VAT on a VAT inclusive price, simply multiply that price by 1/6 (or divide it by 6)
For a VAT inclusive price of £2000, the VAT faction is 2000 multiplied by 1/6 which equals £333.33

Cheers

Bruce
LAND ROVER - THE WORLD'S WORST 4X4 BY FAR

Cottis
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Location: Oxfordshire

Re: helion xq38f best price

Postby Cottis » 16 Oct 2017, 15:26

Mini Magnum wrote:£2000 minus 20% vat is £1600, offset from a £1200 inc vat purchase gives

Purchase Price £1000 + £200 VAT
Sale Price £2000 - 20% VAT = £1600
£400 Sale VAT - Offset Purchase VAT = £200 VAT to pay
£600 Profit.


VAT registration is probably not far away anyway Bruce. The distributors set the RRP prices and maintain this rigorously, as they keep on top of huge price drops , devaluing brands and don’t allow eBay sales.


VAT is levied on the base/net price. If you wish to know the base/net price from a gross figure, divide the gross figure by 6 and subtract the result from the gross figure.

2000 / 6 = 333.33
2000 - 333.33 = 1666.67

Try multiplying 1666.67 by 10% twice and see what answer you get. That answer will the VAT element of a gross price of £2000 (where the rate of VAT is 20%)


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