Car trading through established ltd company - poss?!
Discussion
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
Any help appreciated!
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
Any help appreciated!
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