Shaz is taking questions from his live audience about VAT. With lots of different questions all focused on VAT this is a great opportunity to hear great content about how VAT works in a range of different business situationsKEY TAKEAWAYS
If you have to register there are 3 options, 20%, the flat rate scheme or a tour operators management scheme
With the flat rate scheme, you pay a lower percentage but can’t claim VAT on items bought unless they are over two thousand pounds
It’s better to have separate companies
If you are below the threshold, de-register
If you are doing  a commercial conversion, complete a VAT 1641D and give it to the seller, if they accept it you don’t pay VAT on the transaction
SDLT is payable on the purchase price and the VAT element
Outsource the labour and the materials and only pay 5%
BEST MOMENTS‘If you are mixing different incomes you are more likely to breach the VAT threshold quicker’‘Generally, there is no benefit to registering for VAT’‘You are paying tax on the VATVALUABLE [email protected] THE HOSTShaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.You can find Shaz on:
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