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Partnership Vat quickie

  • 13-02-2009 4:41pm
    #1
    bishops palace
    Registered Users, Registered Users 2 Posts: 45 ✭


    Hey all,

    If you are a partner in a Vatable partnership and you start a second partnership, will this partnership be vatable too? The second partnership would be under vat registration limits and the intention would be to NOT register.

    Grateful for any input thanks ;)


Comments

  • #2
    Mr Clonfadda
    Registered Users, Registered Users 2 Posts: 372 ✭✭Mr Clonfadda


    bishops palace wrote: »
    Hey all,

    If you are a partner in a Vatable partnership and you start a second partnership, will this partnership be vatable too? The second partnership would be under vat registration limits ;)

    No a bono fide Separate Partnership is a totally separate business but if you were carrying on the exact same business the revenue would probably go after second business for VAT


  • #3
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    As far as I am aware Partnerships do not have a seperate legal identity however each partnership would be viewed as a seperate trade so you would not have to register.


  • #4
    bishops palace
    Registered Users, Registered Users 2 Posts: 45 ✭bishops palace


    That's what i figured, it would be a completely different business so i'm safe enough. couldn't find anything very specific on revenue so cheers for that!


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