- Original Poster
- #1
Hi
I'm looking for some vat help....
My business partner has a ltd company (Company A)that is a sub contract cnc machine shop. He is vat registered.
Me and him have a separate ltd company (Company B) making our own motorcycle parts. We are not vat registered.
Currently Company A pays for all the machinery through his other company.
Next year Company B will probably have to go vat registered, and would like to use some of the machines for the motorcycle business. This would involve either paying to rent them from Company A or somehow taking over the payments, and trying to swap the finance over to Company B.
My question is, what is the most efficient and best/legal way to deal with this.
IMO the easiest way would be to rent the machines, and buy them from Company A at the end for a nominal fee, as Company B has limited trading history to obtain finance. But I do not know if this is legal, or efficient.
Finance will be at a cost of roughly 3k plus vat per month.
Thanks in advance
I'm looking for some vat help....
My business partner has a ltd company (Company A)that is a sub contract cnc machine shop. He is vat registered.
Me and him have a separate ltd company (Company B) making our own motorcycle parts. We are not vat registered.
Currently Company A pays for all the machinery through his other company.
Next year Company B will probably have to go vat registered, and would like to use some of the machines for the motorcycle business. This would involve either paying to rent them from Company A or somehow taking over the payments, and trying to swap the finance over to Company B.
My question is, what is the most efficient and best/legal way to deal with this.
IMO the easiest way would be to rent the machines, and buy them from Company A at the end for a nominal fee, as Company B has limited trading history to obtain finance. But I do not know if this is legal, or efficient.
Finance will be at a cost of roughly 3k plus vat per month.
Thanks in advance
