So with previous company insolvent and in order to continue living we are having to start a new company. however with 9K VAT owned will we need a security bond before VAT registration is allowed or does this happen early on in the company trading. With no personal assets and without income, we would not be able to pay a bond before trading as started as there is no money coming from anywhere. Thanks
Why would you register for VAT before trading? Understandable they want a bond, the last business owed them money. But is there any reason you must register immediately or can you wait until you are about to hit threshold?
good point, we can trade until we hit the threshold, so there should then be a fair whack of money to pay any bond
What is happening with the oldco? More info on security bonds here: https://www.gov.uk/guidance/tax-deposits-and-bonds-employers-and-traders
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