Registering for VAT

[Troll]

Lone: FOAD.

DaveB: yes VAT flat-rate scheme seems the main option, but I am now thinking its not worth it just now, perhaps in a few months.

I was just trying to find legal ways to reduce per unit price of some thing that I want to buy for business purposes

Just have 2 companies when work in 1 gets close to VAT threshold assign contract to other... Revenue are less interested in 50K companies than 100k

setup Automated Software Development Ltd & Automated Solutions Development Ltd, make one company the sole director of the other (not sure if Companies House has blocked this yet) get all expenses in the name of ASD Ltd and assign to both companies.

Run both companies through seperate accountants in seperate geographical locations

[DimPrawn]

If you are on flat rate scheme you can only claim VAT back on purchases (individual items) over £2K.

Flat rate scheme is ideal for contractors who charge a lot of VAT but don't spend much on purchases.

For you Alexei, flat rate scheme would be a waste of time. You need full VAT scheme to claim back VAT on all purchases.

Talk to your accountant!

[AtW]

Yeah good point, in any case dont want to get into VAT crap just to save few hundred quid - will look into it nearer end of the year.

Thanks all for participation, this question is now closed.

[BoredBloke]

The agency I am with will not pay my VAT element until I have sent them a copy of my VAT certificate. How legal is this? Would this trick work with others? Could I legally withold the VAT element of a bill for say a plumber if he had not shown me a copy of his VAT certificate?

Since agencies are now asking for copies of this document and the certificate of incorporation, and passport copies, along with company bank account details, with this level of company information in their hands, is there anything dodgy they could get up to with it?

Getting a replacement certificate sent to the house because my accountant has 'filed' the one they have. Another nail in his coffin also!

[kramer]

Just have 2 companies when work in 1 gets close to VAT threshold assign contract to other... Revenue are less interested in 50K companies than 100k

setup Automated Software Development Ltd & Automated Solutions Development Ltd, make one company the sole director of the other (not sure if Companies House has blocked this yet) get all expenses in the name of ASD Ltd and assign to both companies.

Run both companies through seperate accountants in seperate geographical locations

ermmm...... ... naughty

[The Lone Gunman]

Alexii darling................. there is no need for nastiness.

You dont expect em to give you sensible answers in the general forum do you?

[Clog II The Avenger]

Are you telling me you dont meet the minimum income for compulsory VAT registration?

It is not your turnover that matters (unless you’re self employed) it is Company Turnover. If you use more than one limited company, only the turnover of the individual company matters. Do you mean that you only have one Limited Company?

I am having a legal battle to recover money from someone who has over sixty limited companies all with turnover less that the Vat threshold.

It maybe worth having one company registers for VAT and another not. I have been helping a friend move out from a sole trader into limited company status. We sold his assets to one limited company and the assets are now leased to the trading company. That way the assets are secure in the event of failure of the trading company.

[Clog II The Avenger]

“Since agencies are now asking for copies of this document and the certificate of incorporation, and passport copies, along with company bank account details, with this level of company information in their hands, is there anything dodgy they could get up to with it?”

Everyone is getting involved in this. I went to rent some storage space and they required my passport and bank statements. When I augured they showed me a letter from the police telling them that the storage owners had a duty to collect this information under the money laundering and terrorism act. After telling them that the police letter was a load of bowlux I used a storage company in a different county. It seems that everyone wants a copy of your passport and details of you mother madden name these days.

[DimPrawn]

I think it is a ploy to get people slowly used to the concept of an ID card.

I.e. you want to buy a loaf of bread, and soon you will have to show passport, birth certificate, copy of bank statements etc and after a while the moronic British public will start saying "wouldn't it be easier if we all had just one form of ID, like an ID card or summat".

Morons.

[Pondlife]

The agency I am with will not pay my VAT element until I have sent them a copy of my VAT certificate. How legal is this?

Just fax them a photo copy!

Since agencies are now asking for copies of this document and the certificate of incorporation, and passport copies, along with company bank account details, with this level of company information in their hands, is there anything dodgy they could get up to with it?

If they don't know the YourCos bank account detail how do you expect to get paid. The CoI is to check you are trading as a Ltd and therefore fewer 'employment' issues.