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Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
Just to add that if you require more detailed paid advice, please do not hesitate to contact me here – simply PM on messages.
let me know if the below doesn’t make sense and i can explain, in essence, if 2 people work together as a joint venture, the joint venture may have to register for VAT not individuals/sole traders. Hence the total sales are considered. and with property, any joint tenancy is by default considered a partnership from VAT point of view, hence the total income of the partnership business is considered.
https://www.gov.uk/hmrc-internal-manuals/vat-registration-manual/vatreg10010
yes that is correct. You can find this article helpful in order to find your FLAT RATE when you eventual have sales transactions. https://www.freeagent.com/guides/vat/flat-rate-scheme/ and https://www.gov.uk/vat-flat-rate-scheme/how-much-you-pay
Unfortunately, you have to charge VAT if these businesses are both registered for VAT. However, the two businesses may be considered separate if you meet the following conditions on HERE: https://www.vatforum.co.uk/post/two-businesses-are-they-separate-for-vat-10143611?pid=1308610333&highlight=separate; in which case you should only register the business that has exceeded the VAT threshold.
yes that is correct. Please see the link which can also help with regards to invoices already issued or to be issued. https://www.vatforum.co.uk/post/about-to-quote-a-job-that-will-take-me-over-the-threshold-10452807
You can adjust VAT through credit notes. You have 14 days to issue a credit note from the date that the actual refund is made, which must be adjusted in the same VAT period in which the refund is given or received.
Morning Firebird,
Your case involves what is called “triangulation” – you can google it. The triangulation simplification within EU allows an EU VAT registered intermediate supplier to buy and sell goods from/to other VAT registered EU businesses who do not belong in their own Member State without having to VAT register in one of the Member States in which the supply of goods takes place.
However, post Brexit, as the UK is no longer in the EU, a UK VAT number cannot be used to allow triangulation. Within EU Member States there is no VAT registration threshold for Non-Established Taxable persons, i.e. businesses with no fixed or business establishment in the Member state where a supply is deemed to take place. Therefore, the UK business will be required to VAT register in either France in your case on the basis of the onward taxable supply of goods. Local advice will need to be sought to assist with the French VAT registration.
Once the UK business is VAT registered in any EU Member state, you will be able to use that EU VAT registration number to facilitate future triangulation supplies , where their VAT registered suppliers/customers belong in 2 separate Member States.
The below link would be of help: https://www.inspireaccountants.co.uk/inspire-blog/new-vat-rules-after-brexit-triangulation-of-goods-part-three/
