Vat on 2nd Company?

[rookie333]

Hi, I was wondering if anyone could help - I currently have one VAT registered company, I'm a sole trader. If I were to start a second company as a sole trader, would this company also be automatically VAT registered?

thanks.

[peterjhale]

It's the business that is registered for VAT - so I believe the answer is no.

Best bet is to telephone Customs and Excise VAT line - I've always found them really helpful - here's the VAT site :

http://www.hmce.gov.uk/business/vat/vat.htm

[inbakumar]

I concur with Peter's reply above.

Your second business would need a separate registration but this is required only if the second venture's (assuming it is a totally separate line of business) turnover would exceed £58000 per annum. Also you may want to consider a group registration.

As Peter suggested, contacting Customs & Excise is the best course of action. I too found them very helpful.

Regards,

Joel

[peterjhale]

yes - and do it quick as they are fast to fine you - once you have one VAT visit they will keep an eye on you forever so keep your nose clean