One good thing about being a small one man business, the paper work should be minimal. less taxes and overheads. You run your little operation from home, dont have labour issue to deal with and everyone is happy.
Well that seems to be changing and faster than I expected, one of the reasons I down scaled back in 2015, deregistered from VAT etc, was more to cut back on the admin requirements.
Going into solar has created more headaches than they are worth, or so it seems, one of the worse things that happened was over shooting the VAT thresh hold, now I have to charge VAT on labour, which wouldn't be a problem if I only did work for industries. When A domestic customer sees a R5000 Vat figure on top of the labour cost, they tend to comment.
Then there is the additional accounting bill for VAT every 2 months, plus the vat that has to be paid over.
You might be thinking so what is the big deal, well for a person like me who has dropped all my expenses, overdrafts, credit cards, loans, vehicle HP, etc, everything is paid for and I dont have any overheads or business loans, Now I remember why I use to by so many tools and always drive brand new vehicles, take customers for lunch and all that stuff.
I need to get back into debt, replace my old second hand vehicle with a brand new one, dump all the old equipment and start eating out more often.
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