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Reduced rate VAT on renovation via Ltd?

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    #21
    Reduced rate VAT on renovation via Ltd?

    Originally posted by TheCyclingProgrammer View Post
    Not one that does any significantly sized five figure sum building works I wouldn't have thought.
    I know a handful. Oddly enough their turnover is just below the VAT threshold every year.
    They do materials as disbursements (not that they know that’s what it’s called) so their business is time only.

    Edit: basically they’ll lose business if they have to charge 20% more than the local competition. I do know a builder who is both self employed (for non VAT jobs) and runs a LTD.
    See You Next Tuesday

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      #22
      Originally posted by Lance View Post
      I know a handful. Oddly enough their turnover is just below the VAT threshold every year.
      They do materials as disbursements (not that they know that’s what it’s called) so their business is time only.

      Edit: basically they’ll lose business if they have to charge 20% more than the local competition. I do know a builder who is both self employed (for non VAT jobs) and runs a LTD.
      Yeah, thats where the cliff edge effect of vat leads to all sorts of problems - some businesses feel its a commercial decision they need to take to structure in that way. Its a lot of work to get it right and watertight.

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