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VAT help please
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vangirl_2
Posts: 1,956 Forumite
Hi couldnt find any help on hmrc website about this so was wondering if you could help.
Basically me and my husband are self employed and are classed as a partnership. We are not VAT registered as our turnover is under the VAT threshold and is fairly straight forward, we get paid monthly from one source then take off our expenses etc so we dont think we needed to register for VAT and over comlicate things.
I have just started a small website which will bring me in a bit of extra cash, thing is its doing better than expected and the turnover from this and from the partnership might exceed the VAT limit in the future, although this will not be for a while. So will I have to register as I have a stake in both businesses or will they be classed seperateley for VAT? Hope this makes sense. Thanks
Basically me and my husband are self employed and are classed as a partnership. We are not VAT registered as our turnover is under the VAT threshold and is fairly straight forward, we get paid monthly from one source then take off our expenses etc so we dont think we needed to register for VAT and over comlicate things.
I have just started a small website which will bring me in a bit of extra cash, thing is its doing better than expected and the turnover from this and from the partnership might exceed the VAT limit in the future, although this will not be for a while. So will I have to register as I have a stake in both businesses or will they be classed seperateley for VAT? Hope this makes sense. Thanks
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Comments
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Its the business which is VAT registered, so if your website is separate, it does not count towards the partnership income.£705,000 raised by client groups in the past 18 mths :beer:0
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I'd agree with that, if you want to run it past HMC&E, the helpline number for general enquiries is 0845 010 9000 - they will give you a call reference number which is always handy if you ever need to refer back.0
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Hi, Thanks to you both, i thought as much but its better to check and thanks for number too.0
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020 8929 0152 is an alternative number and can be cheaper if you get inclusive calls or use something like 1899..0
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