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Related UK Tax Questions
My friend would like to change from sole trading to Ltd, is
HelloMy friend would like to change from sole trading to Ltd, is there any way how to do this in the tax most optimal way (selling sole trading to Ltd) ...? Thank you… read more
taxadvisor.uk
taxadvisor.uk
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Please, can you advise me on selling Sole trading business
HelloPlease, can you advise me on selling Sole trading business to Ltd , now I need to know :1) how to do with Fixed asset - what CR and DR transactions will look like (if for example Sole trader sell… read more
bigduckontax
bigduckontax
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FCCA FCMA CGMA ACG
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A friend would like to import goods (pottery and food) from
Hello A friend would like to import goods (pottery and food) from abroad and sell it in UK. She also would like to prepare a meal from this imported food and sell it here in UK. The question is: what … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,702 satisfied customers
A question re VAT and the Flat Rate Scheme. Normally in your
Hi Tony, a question re VAT and the Flat Rate Scheme. Normally in your first year as a VAT -registered business you can reduce the VAT flat rate by 1%. Does this apply if you have been a VAT registered… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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Hi Tony, my question is regarding Annual Investment Allowance.
Hi Tony, my question is regarding Annual Investment Allowance. Client bought a £10k asset in July 13 as a sole trader and on 31 August 13 ceased trading as a sole trader and transferred her assets to … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hello. I am a sole trader and I will reach the VAT threshold
Hello. I am a sole trader and I will reach the VAT threshold after another 20k. Can I stop trading like this and set up a ltd company? Will this reset the vat clock as I wasnt required to register at … read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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Dear XXXXX I have a client who has traded as a sole trader
Dear XXXXX I have a client who has traded as a sole trader for many years. In October 2012 he converted to a Ltd company. In December 15th 2012 he registered the company for VAT. I have an invoice fro… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,702 satisfied customers
I have recently obtained a client under enquiry. January 2009
I have recently obtained a client under enquiry. January 2009 client changed business from sole trader to a limited company, when doing this also changed from standard VAT to the Flat rate. In April 2… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
I run a restaurant at an indoor bowls centre with sales below
I run a restaurant at an indoor bowls centre with sales below the VAT threshold. My partner has been offered the bar franchise also with sales below the VAT threshold. Could we run these two businesse… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,159 satisfied customers
I have a small uk based business which is vat registered, the
I have a small uk based business which is vat registered, the only reason for this is because I invoice Italy and Germany , they insist I need to be vat registered for them to pay my invoice? Is this … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Having retired I run a part-time business as a sole trader
Having retired I run a part-time business as a sole trader making a steady but small profit. I have recently formed, with my daughter, a limited company in order for her to take over the management of… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
Hello I am upgrading my business from sole trader to a limited
Hello I am upgrading my business from sole trader to a limited company. I also opened a new bank account in the new company details but can I keep sole trading bank account for government payments as … read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
I am an online seller and to avoid reaching the vat threshold
I am an online seller and to avoid reaching the vat threshold of 77k turnover - is it possible to close my current limited company and move my business to a sole tradership to keep the limited company… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
As a sole trader in the taxi business running three vehicles
As a sole trader in the taxi business running three vehicles what's the best legal way to avoid hitting the vat threshhold.… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,159 satisfied customers
Hello, I hope someone can put my mind to rest. 1. I am
Hello, I hope someone can put my mind to rest. 1. I am in the middle of submitting the SA for a self employed builder. He puchased a van and tools in 2009/2010 which I did not claim on SA for 09/10 ,b… read more
mark25551
mark25551
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ACCA
197 satisfied customers
Hi, is vat payable on the purchase of a commercial property? i
Hi, is vat payable on the purchase of a commercial property? i run a restaurant and the virtual freehold is up for sale. The whole building (6 units) was sold at auction and vat was added. the new lan… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,159 satisfied customers
I am about to purchase a commercial property for £250,000.
I am about to purchase a commercial property for £250,000. The seller is charging me VAT at 20% totalling £50,000. I am self employed turning over £50,000. I also have a company that is about to becom… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,159 satisfied customers
I used to be a sole trader and bought a few buildings - i since
I used to be a sole trader and bought a few buildings - i since became a ltd company (same vat number - employer numbers etc) and we elected to tax the buildings so that we could reclaim vat against t… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
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