Sole Trader - Supplier Asking For Company ID

bring_2

I am starting a business as a Sole Trader. When trying to buy stock I have been asked for a Company ID. To my knowledge I dont have a company ID. How do you get around it?

I have a dormant LTD however I belive I cannot use that company ID as it will result in a requirement to complete an annual return withe the purchases detailed against the dormant Ltd business.

Secondly I am not planning on being VAT registered as my revenue will not be near the threshold. If you are not VAT registrered, I assume you dont have to charge VAT within your selling price nor declare and VAT figures to the government? just the standard annual return for a sole trader.

Is this correct?

HELP!

steve1980

You tell them you don't have a company ID as you are a sole trader.

If you're not VAT registered then don't even mention the word!

heretolearn_2

Have you asked them what they mean by ID?

Suppliers normally want something to check out you are a legitimate business. Sole traders and partnerships can be very large businesses but won't have any separate registration numbers for the business, and I'm sure your supplier deals with some already. Headed paper for example? Your personal UTR number?

BryanSmallBiz

Simplest thing is to ask them what they mean by ID and what they will accept from a start-up sole trader. Assuming they want your business they should have a way of handling you.

As for VAT, you're entirely correct. You make no reference to it on the bills you submit to your customers and you have no returns to submit to the VAT man

Zanzibar

.. unless your tunover is above the £73,000 limit when you will have to register for VAT.