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bigduckontax
bigduckontax, Accountant
Category: Tax
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I am the owner as a sole trader of a dance franchise which

Customer Question

I am the owner as a sole trader of a dance franchise which does not yet hit VAT threshold. I am planning to grow the business to a level that keeps me just below the threshold as due many employees, it will not be worth it to go over. When I am under, I am happy with my small income and going over would mean that the VAT bill would cost me more than my profit! My question is can I open another totally seperate business (party costume and decoration hire) and avoid VAT or will the two businesses be considered jointly? Howe about if the seperate business was also in my husbands name as he will be financing and doing some of the running around but I will be running it. Thanks
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
, I'm Keith and happy to help you with your question.
I am of the opinion that such a split would be valid particularly if each part was under a different proprietor.
I do hope I have shown you a useful way forward in this matter.
Customer: replied 1 year ago.

Keith just to clarify that I would not be splitting the existing franchise, this would be a totally new and different business. What do you mean by a different proprietor? My plan would be to own both businesses myself but the second new one would be in joint names with my husband. Can someone own two businesses and keep them seperate purposes and if so would the new one need to be a LTD business? My husband owns/is director or an estate agency and obviously pays VAT, they are LTD as far as I know.

Expert:  bigduckontax replied 1 year ago.
The two proprietors would be you and your husband.
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3119
Experience: FCCA FCMA CGMA ACIS
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Expert:  bigduckontax replied 1 year ago.
Thank you support.

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