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outdoor restore

  • Posts: 309
Re: going vat registered
« Reply #20 on: January 11, 2011, 09:49:38 pm »
That's what i wondered.

How is this not artificial seperation?

There is a revenue guy on here, perhaps he'll tell us.

Thanks slumps that was the phrase our accountants used.

Dean Taberner

  • Posts: 4164
Re: going vat registered
« Reply #21 on: January 11, 2011, 09:55:57 pm »
Yes I did think that too,

2 sets of accounts wouldn't be where I want to head anyway as I've hardly got enough time write an invoice out at the moment,

Cheers,

Dean.
Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

Dean Taberner

  • Posts: 4164
Re: going vat registered
« Reply #22 on: January 11, 2011, 10:11:15 pm »
Thank you Darren Bradley for the encouragement mate,

Bed time to watch shameless and an early start tomorrow.

Dean.
Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

George P

  • Posts: 1304
Re: going vat registered
« Reply #23 on: January 12, 2011, 01:02:41 pm »
Dean

One other option would be to possibly set up the limited company now and have two sets of accounts, one with the commercial contract work and one for your domestic work.  As these are two separate entities, we could keep the sole trade business below the VAT threshold so no price increase would need to be passed on to your domestic customers.  However, this does come at a cost and more administration and without looking at the numbers for each, I do not know whether this would be a viable option.

If you are considering the above as an option, I would ask your accountant to clarify as we were informed by our accountants that this would not be an option if we were using the same equipment/manpower for both domestic and commercial.

Neil

we was told that if you ran it from same adderss it would be classed as one business so all would have to be vat registed,