hi
im a contractor in IT but am moving into online retail as well as another way of investing. I understand that companies can
have multiple SIC codes allowing me to use the same company to do this, but how would this work with flat rate vat?
retail has 7.5% or so and IT has 14.5, and now i would be moving to the new higher band anyway since April, how could this work?
can you simply calclulate just the retail sales at 7.5% and then software work at 16.5%, assuming my sales dont pull me back down again?
I want to avoid setting up another company
thanks
im a contractor in IT but am moving into online retail as well as another way of investing. I understand that companies can
have multiple SIC codes allowing me to use the same company to do this, but how would this work with flat rate vat?
retail has 7.5% or so and IT has 14.5, and now i would be moving to the new higher band anyway since April, how could this work?
can you simply calclulate just the retail sales at 7.5% and then software work at 16.5%, assuming my sales dont pull me back down again?
I want to avoid setting up another company
thanks
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