Quotations!

[Mick Dempsey]

Just now, timbernut said:

I had to go VAT registered retrospectively £18000, wasn't much fun

That happened to me over here, not as much but it’s a bitter pill, nevertheless.

[timbernut]

It was a very bitter pill because although my turnover had increased hugely my income hadn't, but no one to blame but myself and luckily about 50% of it was for estates/farms etc that I went to cap in hand got the VAT out of them!

[skyhuck]

I ran two separate business for many years, one a a sole trader, none VAT reg and one Ltd, VAT registered. Both doing tree work. I had separate equipment for each, landy and tinywolf for the none vat and Unimog for the vat registered.

[Steve Bullman]

And of course the equipment never crossed over at all 

[skyhuck]

Just now, Steve Bullman said:

And of course the equipment never crossed over at all 

Obviously 

[skyhuck]

You can actually cross hire from one Co to the other.

[eggsarascal]

...... Or set up another company that own the equipment then both your companies hire them in when needed.

 

Remind me why the country is going to the dogs again.

[Steve Bullman]

6 minutes ago, skyhuck said:

You can actually cross hire from one Co to the other.

even if you are the owner of both companies?  I'm sure they'd find something to say about that

[Steve Bullman]

Just now, eggsarascal said:

...... Or set up another company that own the equipment then both your companies hire them in when needed.

 

Remind me why the country is going to the dogs again.

matelot will tell you 

[skyhuck]

2 minutes ago, eggsarascal said:

...... Or set up another company that own the equipment then both your companies hire them in when needed.

 

Remind me why the country is going to the dogs again.

That would be pretty inefficient from a tax point of view, I think the TAX man would like it.