When's a business not a business ? - when it is four businesses !
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Sorry, a bit of inexperience showing here but one thing that I am coming accross working for small businesses is this idea of setting up three or four different companies and sharing the turnover between them to avoid having to register for VAT.
I understand the logic and the drivers behind it, and as they are all individual ltd companies can't see an immediate flaw to this plan - but can't quite believe that there isn't one.
I am not complaining as I charge them for each individual company ! but I still don't feel easy about it - anyone else have any experience of this or warnings for me ? - or am I being paranoid ?
I understand the logic and the drivers behind it, and as they are all individual ltd companies can't see an immediate flaw to this plan - but can't quite believe that there isn't one.
I am not complaining as I charge them for each individual company ! but I still don't feel easy about it - anyone else have any experience of this or warnings for me ? - or am I being paranoid ?
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Re:When's a business not a business ? - when it is four businesses !
Try looking at my earlier post "self employed with 2 businesses".......I had some good advice and comments on there that may be useful to you.
ed0 -
Re:When's a business not a business ? - when it is four businesses !
Oooops - clearly a hot topic ! that will teach me to read before posting - thanks ed
As an aside, the more confusion that I read about, the more confident I become that although accounting is a science, practicing it is definately an art !
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