VAT and Spectacle and Contact Lens Dispensing
There are a number of briefings designed to help practitioners understand mixed sales of partially exempt goods
Business Briefings by Bob Hutchinson
Principal Eros Business Consulting
Bob Hutchinson Answers Questions On VAT Sent To PHN
Here is one such request that is dealt with in the briefing:
What are the VAT/TAX implications of purchasing clinical equipment (including PCs and software) for a practice? From a TAX/VAT point of view is it better to lease or buy? What exactly is the de minimus rule?
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Are You Sure You Are Not Paying Too Much VAT Out Of Your Net Profits?
VAT Cases to be shared with the community...
The reason for this business brief is that many practitioners are still working to old agreed apportionment methods that are not only either no longer relevant or worst still are costing the practice too much tax which in a profitable practice means direct loss of net profit.
Click for Are You Sure You Aren't Paying Too Much VAT Briefing
The Advantages Of Using Stock Modules To Improve VAT Position
Many practitioners see the use of a stock module as an additional luxury which adds time with little benefit to the practice. This is because they have never been shown how stock knowledge can increase profitability, help with promotions, ensure gross profitability levels are retained or maximised and even improve your VAT apportionment agreement or reduce sales tax payments.
Click for Advantage of Using Stock Modules Briefing
Bob Hutchinson has been working in the centre of the optical sector since becoming an optometrist in the 70ís.
Recently retiring from clinical optometry, he continues to act for many SMEs as well as larger groups in strategy, PR & marketing and financial advice with a specialism in optical VAT.
His client base also includes large industrial companies in equipment and IT involved in the optical industry to name a few.
Still involved in optical decision making his aim has always been to encourage regulators and negotiators to allow the sector to flourish, and to assist others to own and manage financially robust businesses.
Eros Business Consulting