Vat killing me!

[TimberCutterDartmoor]

Because your using the same equipment for both "businesses " so basically a tax dodge unless you run separate tools etc etc.

 

I wasn't. Had seperate everything; paperwork, vehicles, phones, bank accounts, tools, even computers.

[Ian C]

It's completely legit; Accountant sorted it all out. Ian - it's the legal way to do it. No deep poo involved.

 

I would be v weary, if that were the case every business would run a vat/ non vat side.

[Ian C]

I wasn't. Had seperate everything; paperwork, vehicles, phones, bank accounts, tools, even computers.

 

Thats ok then but most who do it don't run like that, that's what I was getting at.

 

I know of 2 firms local (not arb) who offer no vat for domestic and + vat all in the same name,same building etc etc.

Edited April 11, 2016 by Ian C

[Kev Stephenson]

why is it any easy way to land in the poo

 

Because ultimately it's tax evasion!! The VAT man is the tax mans evil big brother. Don't upset him.

[skyhuck]

Because ultimately it's tax evasion!! The VAT man is the tax mans evil big brother. Don't upset him.

 

It can be done perfectly legally, you just need to keep the two completely separate.

 

I did it for years, my accountants are very good and would not have entertained it if it was dodgy.

[Matthew Storrs]

This is topical for me at the moment as i'm tetering around on the Vat limit at the mo- I think i prefer the idea of going on holiday more and earning less to save myself the hassle:laugh1:

 

Do you think that being Not VAT regeistered really prevents commercial work?- I seem to get a fair bit of council/national park and the like and don't think that not being registered prevents this, They are more one off jobs though rather than a long term contract though...

[Johny Walker]

Because your using the same equipment for both "businesses " so basically a tax dodge unless you run separate tools etc etc.

 

no im not 1,co is a tree co other co is a sawmill all seperate kit ,

[White Noise]

This is fine, BUT you need separate equipment f:001_smile:

 

This is my experience also

[Ian C]

no im not 1,co is a tree co other co is a sawmill all seperate kit ,

 

Tax dodge!

 

You know what we mean, firms basically just running 2 sets of books for one business.

[Johny Walker]

Tax dodge!

 

You know what we mean, firms basically just running 2 sets of books for one business.

 

tax or vat make your mind up !!!