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UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: PCM LTD on May 20, 2015, 07:04:01 pm

Title: VAT Question. Selling Part Of Round.
Post by: PCM LTD on May 20, 2015, 07:04:01 pm

Hi,
I'm selling part of my round. My question is..... Is this sale subject to VAT?  Yes I am VAT registered.

Title: Re: VAT Question. Selling Part Of Round.
Post by: chris turner on May 20, 2015, 07:19:42 pm

Buying a round is not considered tax deductible as your buying "goodwill".
So surely selling can not be tax/vat deductible as your only selling goodwill!

Title: Re: VAT Question. Selling Part Of Round.
Post by: PCM LTD on May 20, 2015, 07:53:36 pm

This is what I thought but because I'm not selling my whole round/business is this still classed as goodwill?

Title: Re: VAT Question. Selling Part Of Round.
Post by: Scrimble on May 20, 2015, 08:02:46 pm

ask your accountant

Title: Re: VAT Question. Selling Part Of Round.
Post by: Tom-01 on May 20, 2015, 09:18:00 pm

Quote from: chris turner on May 20, 2015, 07:19:42 pm

Buying a round is not considered tax deductible as your buying "goodwill".
So surely selling can not be tax/vat deductible as your only selling goodwill!

I'm pretty sure if you're buying a 'database' it's different?

Title: Re: VAT Question. Selling Part Of Round.
Post by: PCM LTD on June 04, 2015, 10:27:20 am

Hi,
Just thought I would post the answer to my own question after talking to HMRC & my accountant. It may be helpful to anybody else who finds themselves in the same position.

""Also I have got a bit further with your query relating to part sale of window cleaning round. It basically depends on whether or not the purchaser is VAT registered. If they are VAT registered then no VAT needs to be charged. However if they are not VAT registered then VAT needs to be charged.""