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VAT Sole Trader AND Partnership

  • 12-05-2011 2:36pm
    #1
    Registered Users, Registered Users 2 Posts: 29


    There are two guys who are presently self-employed, selling services direct to the public. They are not VAT registered as they fall below the limits.
    They now want to form a partnership to run alongside their existing businesses, BUT it needs to be VAT registered.
    Question: can they still run their sole traders businesses without them having to charge VAT or will they have to charge VAT on everything?


Comments

  • Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    You can register a partnership between the two people for VAT and charge VAT as appropriate.

    The new partnership would need to be in a dissimilar business to their individual sole traderships.

    Kind Regards


    Dbran


  • Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    dbran wrote: »
    Hi

    You can register a partnership between the two people for VAT and charge VAT as appropriate.

    The new partnership would need to be in a dissimilar business to their individual sole traderships.

    Kind Regards


    Dbran
    +1, think of them totally seperate. Only time they come together is when they both appear as income on your Form 11.


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