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(#1)
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More than 1 business liable for VAT? -
12-05-2008, 04:26 PM
Hi guys, new to the forum, was wondering if anyone could answer a question I had.
If I had 1 business with a turnover of around £50k, could I start another separate business with a turnover of 50k and neither of them be eligible for VAT. Or is the 64k threshold a total of all business's you have being self-employed?? Thanks 
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(#2)
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Re: More than 1 business liable for VAT? -
12-05-2008, 04:32 PM
It is you that will be Vat registered and not the businesses so it will be the aggregate turnover of your businesses that will determine whether you should be registered or not
factoring, invoice discounting, asset finance and trade finance specialist broker. Founder member of the Independent Factoring Brokers Association
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(#3)
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Re: More than 1 business liable for VAT? -
15-05-2008, 05:14 PM
Even if they are both limited companies, the fact that you are majority shareholder means they are related, and the vatman will want you to register both for vat.
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(#4)
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Re: More than 1 business liable for VAT? -
16-05-2008, 08:27 PM
Just what I wanted to know, cheers guys.
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