Re-register for VAT

[FiveTimes]

My Ltd ceased trading and I got my accountant to de-register it from VAT so 6 months ago.

However I found a new gig and I will need to re-register for the FRS, would I be entitled for the FRS discount

Im assuming I will get a new VAT number and wondered if this would trigger the discount ?

TIA

[Martin at NixonWilliams]

My Ltd ceased trading and I got my accountant to de-register it from VAT so 6 months ago.

However I found a new gig and I will need to re-register for the FRS, would I be entitled for the FRS discount

Im assuming I will get a new VAT number and wondered if this would trigger the discount ?

TIA

Hi FiveTimes

Having spoken to the VAT helpline recently regarding this same question for a client, the answer they gave was yes.

Provided the de-registration was for a valid reason and you re-register and get a new VAT number you should be entitled to the 1% discount again.

This isn't something I’d advise doing regularly though because I’m sure HMRC would somehow class it as evasion!

I hope this helps.

Martin

[BolshieBastard]

My Ltd ceased trading and I got my accountant to de-register it from VAT so 6 months ago.

However I found a new gig and I will need to re-register for the FRS, would I be entitled for the FRS discount

Im assuming I will get a new VAT number and wondered if this would trigger the discount ?

TIA

Why bother?

Presumably, you are now in a new financial year. You dont need to register for VAT unless your t\o in the year is >73k.

As your new role is only for 6 months, are you likely to t\o >73k?

Registering for the FRS only gives you about a tenner a week in the 6 month period. That may be good to you but it also gives HMRC another avenue to put you through the mill of an iR35 investigation even if they dont win it.

Not worth the hassle imo.

[SueEllen]

Why bother?

Presumably, you are now in a new financial year. You dont need to register for VAT unless your t\o in the year is >73k.

As your new role is only for 6 months, are you likely to t\o >73k?

Registering for the FRS only gives you about a tenner a week in the 6 month period. That may be good to you but it also gives HMRC another avenue to put you through the mill of an iR35 investigation even if they dont win it.

Not worth the hassle imo.

Doing a VAT return only takes a few minutes and as HMRC VAT are hassling people/companies who they think are evading VAT you may as well do it - someone on here got a friendly letter even though his company is registered.

Oh and the people I know who have had VAT inspections didn't find that an IR35 inspection was triggered even though one of them was a lazy bastard and had under paid his VAT so was fined for that.