Accounting types

[kanes]

Friendly those IR guys, can anyone answer this

If I set up a holding company with divisions (really separate companies but due to legalities it's better setting them up as divisions of one company) if one division was to break the £56k barrier, would I have to register the holding company, and as such, the rest of the 'divisions' for VAT?

Sorry to ask but the usual bloke has gone on holiday for a bit

[kanes]

cheers for the reply, will wait to get confirmation when he gets back or if anyone in the mean time can confirm?

it's a bloody ripoff though, it's basically a tax on small business owners with all these new laws and schemes, just to shaft them even harder to squeeze more money for the wonderfully titled "redistribution of the wealth" that Blair fuels, i'd like to know who it's being 'redistributed' to exactly......

[kanes]

Thanks, I'm in a similar position as Ted it seems, the new legislation is certainly an odd situation from a 100% owner's perspective

For now I'm going to stick them as individual businesses rather than divisions of 1 holding company, luckily all businesses operate with very little expenditure but should provide some excess VAT free 'company expenses'