Quick Advice - VAT And Escrow

I'm in the process of finalising a sale - hopefully. However I'm wondering as it is a business buying, what's the situation with VAT? I'm not VAT registered but they no doubt will be. Should my prices include VAT just in case or do I not need to bother?

I'll try and avoid Escrow due to additional costs, however can anyone recommend a cheap fast and reliable service?

 

If you are not VAT registered then you need to do nothing. If you've sold it for £10 then you make an invoice out for £10. Don't mention VAT in the invoice.

Because you're not VAT registered then you don't charge VAT.

 

I have used Escrow.com many many times and I just can't fault them at all. If your domain is worth £500 or less then it's probably not worth using them. As for the additional costs, I normally ask the buyer to pay for them. Speed wise, if it's a .co.uk domain then you are always looking at three weeks plus for the transfer whoever you going to use.

 

If you're selling to a company, they may have their own solicitors with whom they could lodge the funds. They'll be used to dealing with their solicitors, so it can avoid confusion and concern, and sometimes they won't actually charge for this service. (Gasp! - hard to believe where solicitors are concerned, but it's true!). And if they do charge, then you could possibly get the customer to pay.

P.

 

bb99 is correct and I agree with apd that escrow.com is a quality service.

regards
Martin

 

Thanks for the info, I'll see what the response is from the interested party. I'm only usually a middle man when selling items. I'll report back if the sale gets finalised, I don't see why it shouldn't as they're getting a bargain. It's Christmas and all that...