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Confused by the term turnover

Discussion in 'Black Hat SEO' started by Smart SEO, Jan 28, 2014.

  1. Smart SEO

    Smart SEO Senior Member

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  2. mickyfu

    mickyfu Jr. VIP Jr. VIP

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  3. tahworld

    tahworld Regular Member

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    Not sure about the UK but they are about 2 bucks in America.

    turnover1.jpg
     
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  4. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    Probably about a quid from Gregs.
     
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  5. tahworld

    tahworld Regular Member

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    Ah good to know, now I can finally plan my trip overseas :)
     
  6. Smart SEO

    Smart SEO Senior Member

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    Make sure your try the Steak bake from greggs lol having one right now!
     
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  7. Smart SEO

    Smart SEO Senior Member

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  8. tahworld

    tahworld Regular Member

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    Will keep this in mind ;)

    Found you this by the way:

    According to the Companies Act, turnover is: "The amount derived from the provisions of goods or services within the company's ordinary activities after deduction of trade discounts, VAT and other relevant taxes"

    What does that mean in plain English? Your turnover is basically:

    • The total amount you bill to your customers <----- this is probably the answer you are looking for.
    • LESS any discounts
    • LESS any VAT
    Link to article:
    http://www.starfishaccounting.co.uk/2012/06/what-is-turnover.html
     
    Last edited: Jan 28, 2014
  9. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    Think it means the money you are left with once you have paid everything. I am not too good with all this shit, I just make money and let others sort out all the crap.
     
  10. tahworld

    tahworld Regular Member

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    Yeah I have no idea either, same here :)
     
  11. igniteimages

    igniteimages Regular Member

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    Turnover is turnover, ie what you bill not your profit - two very different things - so I think most (all?) people above are wrong.

    My mate is VAT registered because a large part of his turnover is expenses paid by a newspaper for things like hotels, flights etc.
     
  12. boomboomer

    boomboomer Executive VIP

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  13. Kn9Isler

    Kn9Isler Jr. VIP Jr. VIP

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    VAT should be included in the price, that means if you sell an item for 500 it should 500 + VAT.
    If you sell the item for 500 it means that the price includes the VAT and your profit should be lower.
    VAT has nothing to do with profits, it's a "consumption tax".
    Beware I'm not an expert, just brainstorming based on my experience im my country (I may be wrong!)
     
  14. hpv222

    hpv222 Power Member

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  17. kappa84

    kappa84 Power Member

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    Last edited: Jan 28, 2014
  18. SEOWhizz

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  19. SuperFreaky

    SuperFreaky Newbie

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  20. fxphil

    fxphil Senior Member

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    Why are you not running it out of a shell company?