This may sound like a daft question. I have a limited VAT registered business doing management work for several days a week which is generally sufficient for my purposes being semi-retired. Can I put unrelated jobs through the business? By way of example only, I agree to paint a friend's flat at a market rate of say £1,000 plus VAT. I buy the paint and complete the work and invoice just as I would for higher calibre management work. Now being just a bit silly, my wife (director and employee) agrees to walk a neighbour's dog each day for £10 plus VAT. I then decide to buy and resell a piece of antique furniture. I am not suggesting anything contrived. Would it be acceptable to use the business for such purposes?
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Doing odd jobs?
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Originally posted by Sterling View PostThis may sound like a daft question. I have a limited VAT registered business doing management work for several days a week which is generally sufficient for my purposes being semi-retired. Can I put unrelated jobs through the business? By way of example only, I agree to paint a friend's flat at a market rate of say £1,000 plus VAT. I buy the paint and complete the work and invoice just as I would for higher calibre management work. Now being just a bit silly, my wife (director and employee) agrees to walk a neighbour's dog each day for £10 plus VAT. I then decide to buy and resell a piece of antique furniture. I am not suggesting anything contrived. Would it be acceptable to use the business for such purposes?Last edited by Big Blue Plymouth; 11 October 2017, 17:43. -
Originally posted by Big Blue Plymouth View PostI know this makes me a "bad citizen" but cash in hand, Shirley?"You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by Big Blue Plymouth View PostI was about to suggest what I would do but I know it makes me a "bad citizen"Comment
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Originally posted by Big Blue Plymouth View PostI was about to suggest what I would do but I know it makes me a "bad citizen"Comment
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Yes, you can use your business for whatever you like.
When you submit your annual return, you can include multiple SIC codes.
Where it gets more complicates is with flat rate vat, so if yourCo is on FRVS, talk to your accountant.Comment
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Originally posted by mudskipper View PostYes, you can use your business for whatever you like.
When you submit your annual return, you can include multiple SIC codes.
Where it gets more complicates is with flat rate vat, so if yourCo is on FRVS, talk to your accountant.Last edited by northernladyuk; 12 October 2017, 06:40.Comment
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