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VAT on events?
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Poshsalt
Posts: 127 Forumite

A quick question, I'm not VAT registered and have not gone over £85k or will go over.
I run an event, an now going to be running 2 more events.
One of the events is a deal where its a 25/75 split, but because the money goes through the building i'm hiring I have to pay 20% Vat.
My question is if I get registered do I get the VAT back from the sales of the tickets.
Then on those other events I'd have to add on VAT?
Can I set up another business/card which is solo for that 1 event business that has to be registered with VAT? An the other two events on another card/accounts so I dont pay Vat on them?
0
Comments
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Who are your attendees going to be? VAT registered businesses or private customers?
Assuming your customers are generally not VAT registered then....
Supplier cost = £50pp + VAT = £60pp
Your ticket price = £100pp + VAT = £120pp
If you are not VAT registered you can still charge your £120pp for ticket price and will make £60 per ticket sold. If you are VAT registered you have to pay £20 per sale to HMRC but can recover the £10 supplier VAT meaning you make £50 per sale.
Not being VAT registered means the Taxman gets less and you get more.
If your customers are mainly VAT registered its slightly different0 -
You cannot pick and choose events to be registered for VAT for. It is all or nothing, unless you go to a lot of trouble (even using different businesses with different owners may not be sufficient).0
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