How is everyone?

[Chris Perkins 228]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

[Hussulo 6]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

I won £161,000,000 on the lottery the other night.

Okay just dreaming. Not a lot my end Chris but nice to see you on the forum. Is the house nearly finished?

[TomGoodheart 401]

Not too bad here thanks Chris. Apart from the realisation I'm getting old! My daughter's fault. There she was playing with her Barbies, I look away for a second and suddenly she's off looking at which university to go to! wth??? She's even applied for a job for goodness sake!

Ah well. I guess the consolation is that my small collection of coins is older too.

Now, if only they were worth more for it ....

[Chris Perkins 228]

Nowhere near finished! I have completed a wall and a door/frame too high standard and other bits and pieces, but not even a complete room to report, yet!

[argentumandcoins 70]

National debt is increasing (nearly as quickly as the cost of living).

England are well on the way to being number 1 in world cricket.

The summer was nearly here and then it went again.

Kylie still looks fit.

Oh and Scotland still can't beat an egg never mind another national team at anything (apart from curling) SORRY DAVE

[azda 979]

National debt is increasing (nearly as quickly as the cost of living).

England are well on the way to being number 1 in world cricket.

The summer was nearly here and then it went again.

Kylie still looks fit.

Oh and Scotland still can't beat an egg never mind another national team at anything (apart from curling) SORRY DAVE

Ahhh but we do have a rich pair of old farts who won the euromillions. GET IN SCOTLAND: the must be at least 60 years old, poor buggers won't be around long enough to spend that lot, but well done them. Oh and cricket is shite, tha's not news, everyone knows that

Edited July 15, 2011 by azda

[ski 1]

youre rich jockman was asked by his wife if he still loved her now he was rich. he replied yes but he would miss her

[Peter 615]

I think the local pie shop are looking forward to a busy weekend.

Whatever (or whoever) persuaded them to go public.

[Peter 615]

Nowhere near finished! I have completed a wall and a door/frame too high standard and other bits and pieces, but not even a complete room to report, yet!

I'm in a decorating frenzy as contracts are scarce at present.

I now also lurk on DIY sites

One of Mrs Peter's friends commented that the wallpapering was the best she had seen and could she have the decorators nr.

My head swelled and I've been stuck in the lounge ever since.(although I confess I've learned by mistakes).

We also have another property which has been done to "rental standard" and I've got an eye open for another opportunity.

Oh the joys of nearly paying off my mortgage.

If only I can persuade Mrs Peter to get a full time job

Breakfasting the kids,taking the dog for a walk,a bit of painting and a visit to the DIY sheds is a nice way to spend a day.

[Colin G. 147]

I was beginning to wonder if you were a distant dream I once had actually that sounds a bit wrong

Good to see your typing fingers still work after all that DIY!!!

[Peckris 579]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

Apparently, a 168-year-old newspaper got shut down, someone dropped a mobile phone and someone else picked it up and broke into the voice mail on it, David Cameron & Ed Miliband & Nick Clegg got outraged in unison, somebody paid the police something for some reason or other, some ginger-haired tart resigned, and there's a decrepit Australian who's a bit pissed off by it all.

Oh and the worst famine ever in Africa, and some European economies have gone bust with rioters on the streets. Bin Laden got found and terminated. Apart from that, I'm still looking for a 1903 open 3 penny.

[argentumandcoins 70]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

Apparently, a 168-year-old newspaper got shut down, someone dropped a mobile phone and someone else picked it up and broke into the voice mail on it, David Cameron & Ed Miliband & Nick Clegg got outraged in unison, somebody paid the police something for some reason or other, some ginger-haired tart resigned, and there's a decrepit Australian who's a bit pissed off by it all.

Oh and the worst famine ever in Africa, and some European economies have gone bust with rioters on the streets. Bin Laden got found and terminated. Apart from that, I'm still looking for a 1903 open 3 penny.

[Red Riley 2]

Ahhh but we do have a rich pair of old farts who won the euromillions. GET IN SCOTLAND: the must be at least 60 years old, poor buggers won't be around long enough to spend that lot, but well done them. Oh and cricket is shite, tha's not news, everyone knows that

No offence to these people but having seen them on TV, the first thing they ought to think about spending their money on is an extended course at a health farm. That way they might actually get to enjoy their money for longer.

[Red Riley 2]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

I too am spending a great deal of time, rather than money, on old cars - but it was ever thus. On the other hand, a friend is threatening to pay me to restore his MGB to health, so that might at least supplement my meagre income as a coin dealer...

[Fubar 80]

I too spend a lot of money on old cars because I have to drive one every day.

I continue to hover in the background sticking in my two ha'pence worth whether its wanted or not.

Nice to see the boss about again.

Having had the experience over the past few years of doing up houses the one we currently live in (27 years) will never be finished because SWMBO will immediately want to move again. Our other properties are currently fully let which is good considering the amount of work I put into them. Some say that the house market will take a long time to recover so more people are renting than buying. Its a toss up as to whether investment in property to let is worth it or not at the moment. We bought ours just before the market collapsed. Oh joy!

[argentumandcoins 70]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

I too am spending a great deal of time, rather than money, on old cars - but it was ever thus. On the other hand, a friend is threatening to pay me to restore his MGB to health, so that might at least supplement my meagre income as a coin dealer...

Keep it meagre as long as you can Derek.

I have had to register for VAT and it's a right pain in the arse!

[Peter 615]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

I too am spending a great deal of time, rather than money, on old cars - but it was ever thus. On the other hand, a friend is threatening to pay me to restore his MGB to health, so that might at least supplement my meagre income as a coin dealer...

Keep it meagre as long as you can Derek.

I have had to register for VAT and it's a right pain in the arse!

My accountant does mine and its a nice way to earn a few £ for nothing (claiming 20% and only paying less as a small business )

Edited July 16, 2011 by Peter

[argentumandcoins 70]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

I too am spending a great deal of time, rather than money, on old cars - but it was ever thus. On the other hand, a friend is threatening to pay me to restore his MGB to health, so that might at least supplement my meagre income as a coin dealer...

Keep it meagre as long as you can Derek.

I have had to register for VAT and it's a right pain in the arse!

My accountant does mine and its a nice way to earn a few £ for nothing (claiming 20% and only paying less as a small business )

My accountants charge a small fortune just for my year end stuff so the VAT returns will be down to me.

After nearly having a coronary upon speaking to 2 HMRC advisors (one tosser I wish had been sitting before me) I was reliably informed by another dealer that I should use the Global Accounting Scheme. HMRC told me I had to pay 20% on everything and being as though my registration was backdated to last August

Anyway, I don't and can't charge VAT to my customers or I am liable for the full rate.

I have next month set aside to sort the mess out otherwise I am right in the sh**e with HMRC and I really don't want to upset those chaps.

Who said working for yourself was easy??????????

[ski 1]

I've not been around much lately. Not deliberate, simply so much going on, mostly involving old cars that I've wasted money on! And an even older house that takes up a lot of time.

Apart from the recent topic that was brought to my attention (and locked) what's news?

please leave this message on my answer phone and the news of the world will get back to you with a reply shortly.

[Chris Perkins 228]

The first thing I thought when I heard the winners were Scottish and then saw them, was how many battered mars bars £161m would buy!

Argentumandcoins, I hate the way I collect and pay 7% (it's only 7% on coins here, zero on gold) VAT for every sale I make, but that I cannot claim 7% back when I buy coins, so in effect I don't pay VAT on the profit, I pay VAT on the whole amount of sale. 20% makes my 7% look like a drop on a hot stone, but do you know how I can claim back on purchases from private individuals? I think I heard there are some VAT rules which are harmonised EU wide.

Incidentally the collecting accessories have 19% VAT, which is the standard German rate. Books also attrace 7% VAT, but I get around that by having all books printed outside Germany and stored/dispatched from the UK, where book VAT is 0.

[argentumandcoins 70]

The first thing I thought when I heard the winners were Scottish and then saw them, was how many battered mars bars £161m would buy!

Argentumandcoins, I hate the way I collect and pay 7% (it's only 7% on coins here, zero on gold) VAT for every sale I make, but that I cannot claim 7% back when I buy coins, so in effect I don't pay VAT on the profit, I pay VAT on the whole amount of sale. 20% makes my 7% look like a drop on a hot stone, but do you know how I can claim back on purchases from private individuals? I think I heard there are some VAT rules which are harmonised EU wide.

Incidentally the collecting accessories have 19% VAT, which is the standard German rate. Books also attrace 7% VAT, but I get around that by having all books printed outside Germany and stored/dispatched from the UK, where book VAT is 0.

Chris, the VAT rules are causing me a headache or two!

The Global Accounting scheme means that whatever is my stock cost price at date of registration (August 2010) becomes a negative equity. Each sale under £500 (UK and EU only) is a positive equity thus reducing my negative balance. All sales of over £500 on individual items must have an entry in a stock book showing cost price and sale price, with 20% due on the profit (these items are under the VAT Margin Scheme

). All invoices of mine must show that I am not charging VAT to the customer but I am registered.

Any item of over £500 that I cannot provide a receipt for cannot be listed under the margin scheme and is liable for VAT at 20% on the full sale price. Some gold is zero rated and some isn't.

These are the simplified rules !!!!

As for your question.... sorry I am lost!

VAT plus income tax plus ebay extortion plus customers wanting discount plus rising stock purchase costs plus rocketing fuel costs = slim pickings on the profit front At least the collection is growing though!!

John.

[Peter 615]

The first thing I thought when I heard the winners were Scottish and then saw them, was how many battered mars bars £161m would buy!

Argentumandcoins, I hate the way I collect and pay 7% (it's only 7% on coins here, zero on gold) VAT for every sale I make, but that I cannot claim 7% back when I buy coins, so in effect I don't pay VAT on the profit, I pay VAT on the whole amount of sale. 20% makes my 7% look like a drop on a hot stone, but do you know how I can claim back on purchases from private individuals? I think I heard there are some VAT rules which are harmonised EU wide.

Incidentally the collecting accessories have 19% VAT, which is the standard German rate. Books also attrace 7% VAT, but I get around that by having all books printed outside Germany and stored/dispatched from the UK, where book VAT is 0.

Chris, the VAT rules are causing me a headache or two!

The Global Accounting scheme means that whatever is my stock cost price at date of registration (August 2010) becomes a negative equity. Each sale under £500 (UK and EU only) is a positive equity thus reducing my negative balance. All sales of over £500 on individual items must have an entry in a stock book showing cost price and sale price, with 20% due on the profit (these items are under the VAT Margin Scheme

). All invoices of mine must show that I am not charging VAT to the customer but I am registered.

Any item of over £500 that I cannot provide a receipt for cannot be listed under the margin scheme and is liable for VAT at 20% on the full sale price. Some gold is zero rated and some isn't.

These are the simplified rules !!!!

As for your question.... sorry I am lost!

VAT plus income tax plus ebay extortion plus customers wanting discount plus rising stock purchase costs plus rocketing fuel costs = slim pickings on the profit front At least the collection is growing though!!

John.

Apologies John,I didn't realise you had it so bad .

I'm lucky in that I can invoice monthly (or whatever) and add my 20% and then my accountant (quarterly) sorts out my flat rate based on turnover (which is a lesser %)He also invoices me quarterly for his services at this time so everyone is happy and I have a few hours left to pour over coins,decorate and say loving things to Mrs Peter.

I can imagine due to the nature of the beast yours is a nightmare...Move to the Isle of Man or somewhere or sell your coins really cheaply to keep under the threshold...now there's a thought.

[argentumandcoins 70]

The first thing I thought when I heard the winners were Scottish and then saw them, was how many battered mars bars £161m would buy!

Argentumandcoins, I hate the way I collect and pay 7% (it's only 7% on coins here, zero on gold) VAT for every sale I make, but that I cannot claim 7% back when I buy coins, so in effect I don't pay VAT on the profit, I pay VAT on the whole amount of sale. 20% makes my 7% look like a drop on a hot stone, but do you know how I can claim back on purchases from private individuals? I think I heard there are some VAT rules which are harmonised EU wide.

Incidentally the collecting accessories have 19% VAT, which is the standard German rate. Books also attrace 7% VAT, but I get around that by having all books printed outside Germany and stored/dispatched from the UK, where book VAT is 0.

Chris, the VAT rules are causing me a headache or two!

The Global Accounting scheme means that whatever is my stock cost price at date of registration (August 2010) becomes a negative equity. Each sale under £500 (UK and EU only) is a positive equity thus reducing my negative balance. All sales of over £500 on individual items must have an entry in a stock book showing cost price and sale price, with 20% due on the profit (these items are under the VAT Margin Scheme

). All invoices of mine must show that I am not charging VAT to the customer but I am registered.

Any item of over £500 that I cannot provide a receipt for cannot be listed under the margin scheme and is liable for VAT at 20% on the full sale price. Some gold is zero rated and some isn't.

These are the simplified rules !!!!

As for your question.... sorry I am lost!

VAT plus income tax plus ebay extortion plus customers wanting discount plus rising stock purchase costs plus rocketing fuel costs = slim pickings on the profit front At least the collection is growing though!!

John.

Apologies John,I didn't realise you had it so bad .

I'm lucky in that I can invoice monthly (or whatever) and add my 20% and then my accountant (quarterly) sorts out my flat rate based on turnover (which is a lesser %)He also invoices me quarterly for his services at this time so everyone is happy and I have a few hours left to pour over coins,decorate and say loving things to Mrs Peter.

I can imagine due to the nature of the beast yours is a nightmare...Move to the Isle of Man or somewhere or sell your coins really cheaply to keep under the threshold...now there's a thought.

If it wasn't for the Sally Army my family and I would be starving Peter. I just wish the youngest was nearly 4 instead of 2 and at least the workhouse would take him then!

[Peter 615]

Next time the Sally Army are in my club I will pop an extra guinea in the collection tin...I think I have a spare 1703 VIGO knocking about somewhere.

[argentumandcoins 70]

Next time the Sally Army are in my club I will pop an extra guinea in the collection tin...I think I have a spare 1703 VIGO knocking about somewhere.

God bless you m'lud.