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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4203
Experience:  FCCA FCMA CGMA ACIS
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I HAVE TAKEN OVER THE LEASE OF A PUB AS SOLE TRADER, WHEN DO

Customer Question

I HAVE TAKEN OVER THE LEASE OF A PUB AS SOLE TRADER , WHEN DO I NEED TO REGISTER FOR VAT , AND IF I CHANGE TO A LIMITED COMPANY BEFORE I HIT THE THRESHOLD , DO I START WITH A BLANK SHEET FOR THE THRESHHOLD
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able help you with your question.

The Turnover Level for VAT Registration is 83K in any one year. Below that no registration is needed. If you do as you suggest you could restart with a blank sheet. HMRC might view it with a jaundiced eye, but there is nothing they can do about it.

I do hope that you find my reply of assistance.

Customer: replied 1 year ago.
they would not consider the business to be a going concern from the first transfer
Expert:  bigduckontax replied 1 year ago.

They might try, but were it operated be two separate legal entities as you suggest then that Department would have to lump it. They won't like it though!