When's a business not a business ? - when it is four businesses !

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in General accounting discussion
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 ?

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    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.
    ed
  • System
    System Posts: 100,537 🤖 Admin 🤖
    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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