Re-Registering for Vat

[Stephen Blair]

I de registered for Vat a few months back as i have been below the threshold for 2 years and it was really affecting the small domestic jobs which is mostly what i do.

Since then i have picked up some commercial work, things are doing better and i need to purchase some kit.

I want to go Vat registered again, i will speak to them on Monday but any advice would be welcome from anyone who has been in this situation or knows about it is more than welcome:thumbup1:

 

I realise i may have to claim some Vat off these customers which isnt a problem and i dont mind taking the hit in the very few domestic jobs i have done out my own pocket as long as i can claim back some Vat as i have had some bigger bills:thumbdown:

[Dean O]

Never had to do this but if its within the quarter you may be advised to pick up where you left off

i wouldnt have thought it would be a problem for them - if you use an accountant i would probably just ask them to make it so and forget about the hassle.

[Stephen Blair]

Never thoiught of that Dean, i might just catch it, i can not remember when exactly i finished up.

My accountant is getting contacted tomorrow anyhow, but i always like a little heads up from the guys on the ground, cheers:thumbup1:

[Dean O]

no worries - good luck

we will all be waiting for pics of shiny new kit now!

[Stephen Blair]

no worries - good luck

we will all be waiting for pics of shiny new kit now!

 

its not going to be very shiny

[Johny Walker]

stevie, will the new work take you over the threshold ? or are you thinking of just getting the vat bk

[Stephen Blair]

yes hence the buying of new kit to carry out the work efficiently:001_smile:

[Goaty]

Can you set up another company, have one for commercial. The other for domestic work. Sounds complicated but could be done in a legit way.

I know someone who set up another company to avoid vat and justed lumped it buying gear.

Vat is a stinger at the moment though.

[bythamboy]

To vat register or not ? surely if your sales to non vat registered businesses or public are greater than any vat -able purchases then its a no brainer keep away from being a tax collecter ( at your expense ) I know big things like chippers are bad news with 20% , but surely the gross price is income tax deductable. We're farmers ,and vat registered but most sales of food are zero rated , the arb work is done part time 2/3 days per week and I have to swallow the VAT because the farm side can't aford to de-register

[Stereo]

You can do this but hmrc take a dim view of it. You are effectively the same person and it can be seen as tax evasion. Those who say it's fine probably never get checked. Best thing is to speak to a good accountant. As for re-registering, if your turnover is going to take you over the threshold true. You have to re-register. If it's voluntary then you will have to make a case that you are going to go over threshold soon. Just getting the vat back on a load of kit is no good reason In their eyes.

 

All IMHO of course. Speak to an accountant or hmrc.