registering for vat - two separate self employed businesses

mickdw

I am currently self employed with income under vat threshold.
I'm considering another self employed service business and would likely have turnover circa 20k in year one.
I don't want to register for vat if possible although both incomes combined will be over the vat threshold.
Is the vat threshold considered separately or conbined?

Alan Shore

Its you that are registering, if you exceed the limit then you need to register.

mickdw

Alan Shore wrote: »

Its you that are registering, if you exceed the limit then you need to register.

Ah right thanks.
Will have to reconsider. Existing business would be a lost cause if I need to charge vat on top as I deal with 99 percent private persons , not businesses and its quite tight as is.

mozattack

Ways around this to be honest but that would be telling

Immy

At a revenue audit a few years ago they didn't combine 2 separate trades as they were totally different activities.

If the trades are in any way similar they will combine.

Incorporate one trade into a company.

mickdw

Immy wrote: »

At a revenue audit a few years ago they didn't combine 2 separate trades as they were totally different activities.

If the trades are in any way similar they will combine.

Incorporate one trade into a company.

Tell me more. In my case, the first one is a professional business, architectural / Engineering.
The new one which could be vat registered is not related at all, cable guy type thing but not exactly that - subcontracted into large company.

mozattack

Immy wrote: »

At a revenue audit a few years ago they didn't combine 2 separate trades as they were totally different activities.

If the trades are in any way similar they will combine.

Incorporate one trade into a company.

I'd like someone to show me where you can ignore the income from another trade when determining the income for the VAT threshold, I would be really interested in seeing that as that is totally news to me and goes against a lot of top level expert VAT advice I have been privy to.

If engaging in accountancy work, blocklaying and engineering work and have €15k from each activity they are all combined.

mickdw

mozattack wrote: »

I'd like someone to show me where you can ignore the income from another trade when determining the income for the VAT threshold, I would be really interested in seeing that as that is totally news to me and goes against a lot of top level expert VAT advice I have been privy to.

If engaging in accountancy work, blocklaying and engineering work and have €15k from each activity they are all combined.

anything that can be done re setting up a company for one of the businesses and being a paye employee to the company.

dominicbrooks

If you are self employed all your incomes are treated as one.
The only way to have them treated separately is to form a company.

dominicbrooks

If you are self employed all your incomes are treated as one.
The only way to have them treated separately is to form a company.