VAT advice - where from and how much?

in2d

Free Member
Aug 20, 2007
30
0
I became VAT registered last year when I set up my business (ridiculous really - when I barely trade) but my husband and I have another little 'business' (again - you can hardly call it that - selling secondhand cd's at practically no profit) so rather than get him caught up in the messy business of self employment - it is all in my name.

Well - it's not working out well - and I want the cd business to go under my husbands name (btw - he is not VAT registered.) So that I can concentrate on my thing and stop paying out VAT on his. He buys goods on which he pays no VAT (he buys off people on ebay who are just general joe public - not businesses) but then when he sells them I have to declare VAT on them :( :( So - a big loss (unless we are doing something wrong here....)

Bottom line is - I really could do with finding someone who knows accounts and VAT to discuss how to deal with all of this. I don't want an accountant for day to day running of the books (I'm quite happy to do that) ... just need to find someone who will advise me on a few issues.

Does anyone know what the 'going rate' is for this ... and how would I go about looking for someone reputable (who doesn't cost too much - really struggling financially right now).

Any tips much appreciated.:)
 
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CassioAcc

Free Member
Mar 17, 2008
962
237
Hertfordshire
Contact a few accountants, do you want them to do your year end returns?
You can appoint them to do your end of year tax and benefit from advice throughout the year. This will usually be included in a fixed fee.

An inital consultation with an accountant (usually free) will put you on the right track.
 
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Skidoodle

Free Member
May 2, 2008
24
1
I can't understand why your vat registered if you don't come anywhere near the threshold? is this so that you can claim the vat back on your purchases? Why don't you just de-register from VAT? If it's to claim the vat back on the purchase then sell through another company, then is that legal?
I always find the HMRC helpful (even i was astounded when it happened) they have a national vat helpline, why don't you phone them?0845 010 9000.
I used to have an accountant, but changed it to a business/tax adviser who does bookeeping, he was half the price and knew far more! My original accountant (who was a total rip off) charged me £75+vat per hour!
 
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