A small builder friend of mine reckons that he will exceed the €37,500 VAT registration threshold next year.
He really doesn't want to register for VAT because of all the extra paperwork required.
I suggested that he only bill his customers for labour and let them pay for/buy the materials directly.
I'm sure that this is legal, but one problem he sees with it, is that he will loose his smallish markup (profit) on the materials.
I also suggested that some customers could pay him cash for materials and get the invoices made out to cash .....
the key element being, that this part of the transaction does not go through his bank account.
(He doesn't have to give all of these invoices to the customer)
Any thoughts?