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LBWCS

  • Posts: 649
Re: If turnover is approaching vat threshold
« Reply #20 on: April 23, 2013, 09:53:58 pm »
OEWC-I have just asked about the husband/wife split.
Even asked if on paper the wife could be a bookkeeper.
It was a very firm no.
You can try it but her majesty's finest will decide against it being legal and make you pay everything they think they are owed.
There was a case last year where they did it and now the precedent has been set.

Just MO but even Solar Steve may struggle to split. It could be argued that its all the same equipment being used and the only difference is the item being cleaned. I'm sure he'll take advice on it though.
Again JMO but the same could be said for fascia cleans...
I agree. If THEY view it as vat avoidance then they will ask for all combined business's turnover

keyser soze

  • Posts: 1694
Re: If turnover is approaching vat threshold
« Reply #21 on: April 23, 2013, 10:35:39 pm »
hey darren have you ever wondered how ''clean my windows'' (local window cleaning business) gets away with it???

Re: If turnover is approaching vat threshold
« Reply #22 on: April 23, 2013, 10:52:53 pm »
Said in my first post i found this interesting, I'm even more interested now!

The whole point of my meeting with my accountant was to discuss these issues. He does not feel it is an issue to split the solar side as it turning out to be run in a completely different way to the rest of my business. I won't go into detail further about that. It is completely legit, you don't get the contracts we are getting if it is not. But I will not put out there the business model.

My accountant has said though that if I am going to split, it is advisable to do so sooner rather than later. There is an interim period between having a business sideline and then that becoming a business all on its own. Particularly with solar, my accountant and I feel that for now, we are running things correctly.

Spc in the UK is such a new industry that no one really knows yet if it will take off initially and then implode. There is no point setting up a company for it to go bust a little further down the line. That said, we realise that if we are to split, it is advisable to do so sooner rather than later because as some have you have said, the legal lines become a little blurry.

Personally, I have always worked as legit as I can and this solar thing will be done with equal diligence, if it happens.

roundbuilder

Re: If turnover is approaching vat threshold
« Reply #23 on: April 24, 2013, 08:21:09 am »
Id have thought you would have smashed the vat barrier steve the way you go on here having to sub your work out??.

deeege

  • Posts: 4994
Re: If turnover is approaching vat threshold
« Reply #24 on: April 24, 2013, 08:27:50 am »
Id have thought you would have smashed the vat barrier steve the way you go on here having to sub your work out??.

You do get a bit of that on the forums.

"....and it's lend me ten pounds, I'll buy you a drink, and mother wake me early in the morning."

dave0123

  • Posts: 3553
Re: If turnover is approaching vat threshold
« Reply #25 on: April 24, 2013, 12:05:36 pm »
You do not need to go LTD at all if you go vat registered
Dave.

Re: If turnover is approaching vat threshold
« Reply #26 on: April 24, 2013, 01:11:14 pm »
Id have thought you would have smashed the vat barrier steve the way you go on here having to sub your work out??.
That's understandable mick, but I only sub out the solar jobs which are too far away from me. If you have seen, Ive got a solar job near Plymouth today. That is 3 & 1/2 hours from me. it is not worth the travelling.

However, the bigger contracts are the reason we may split as they look like they may take us over the threshold.