Car trading through established ltd company - poss?!

Car trading through established ltd company - poss?!

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Discussion

burba

Original Poster:

1,868 posts

259 months

Wednesday 11th April 2007
quotequote all
I have a trading ltd company at the moment, and am looking to supplement income through trading in vehicles (1 a month most likely).

Ltd company is registered to FRS for VAT (under general business consulting, circa 11% without discount)- how will this effect it if at all?
How do i go about charging/reclaiming VAT if i need to? Do you have to sell them with VAT, as i've never seen it mentioned when i've bought privately?!
Accountant can't give me a straight answer over the phone rolleyes

Any help appreciated!

burba

Original Poster:

1,868 posts

259 months

Wednesday 11th April 2007
quotequote all
Reading that, I interpret I would more than likely be better off setting up a new entity to trade under as I would be jeopordising my current arrangements for my ltd company.

Many thanks for that Eric, wish you were local to me! rolleyes