Originally posted by minstrel
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Autumn statement - end of VAT flat rate scheme?
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Originally posted by TheCyclingProgrammer View PostI don't want £3k worth of paper.
(Not suggesting you do this by the way)Comment
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Originally posted by Alan @ BroomeAffinity View PostYou can sell it back. Then you'll both have bought £3k of goods.
(Not suggesting you do this by the way)Comment
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Originally posted by Alan @ BroomeAffinity View PostYou can sell it back. Then you'll both have bought £3k of goods.
(Not suggesting you do this by the way)Taking a break from contractingComment
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Originally posted by Alan @ BroomeAffinity View PostYou can sell it back. Then you'll both have bought £3k of goods.
(Not suggesting you do this by the way)merely at clientco for the entertainmentComment
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Originally posted by eek View PostThat to me looks like carousel fraud..Comment
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Originally posted by chopper View PostThe only way it would work, being an FRS business, is to buy £3000 + VAT worth of paper, but then sell it for £3600 + VAT, otherwise if you were to sell it for £3000 + VAT, then you would lose £600 (as being unable to reclaim the input VAT) as well as losing another £522 on having to give HMRC 14.5% of the £3600 you sell it on for. tulipty.Comment
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Originally posted by chopper View PostThe only way it would work, being an FRS business, is to buy £3000 + VAT worth of paper, but then sell it for £3600 + VAT, otherwise if you were to sell it for £3000 + VAT, then you would lose £600 (as being unable to reclaim the input VAT) as well as losing another £522 on having to give HMRC 14.5% of the £3600 you sell it on for. tulipty.Last edited by minstrel; 23 November 2016, 16:45.Comment
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Originally posted by Alan @ BroomeAffinity View PostExactly. It was a glib remark not to be taken seriously.
My wife probably sells over £3k of stuff on eBay each year. My Ltd could buy it off her and then sell it through the Ltd.
My Ltd could even employ her to sell it. Might even give me more justification to pay her a £8k salary and give her 50% sharesComment
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Originally posted by minstrel View PostDoesn't the new 16.5% FRS % only apply to limited cost traders?
So if you are a £100k turnover business and buy > £2k of goods you can stay on the old FRS?Comment
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