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Electrician Talk Forum
How Do You put Your Materials Through Company
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<blockquote data-quote="ExArmy" data-source="post: 552427" data-attributes="member: 37620"><p>I've always been just under the VAT threshold as I don't think I would be as competitive in the domestic area which is mainly what I like. I do <em>some</em> commercial work for VAT companies but in general they are all pricks and just whinge about the price, introduce loads of hoops to jump though and take forever to pay the bills, whereas all the domestic jobs everyone is happy to see me, reasonable to deal with and they pay up when I've done the work, simple.</p><p>I am interested in doing more solar jobs but supplying the gear for that is going to put me over straight away so I've not taken the plunge yet, but I was talking with my accountant recently and he said it would be possible to set up a sole trader solar company that's registered for VAT just to do all the solar jobs through. I actually suggested the idea thinking he would tell me straight away that's not allowed but he said it would be ok. the idea being I can buy all the solar equipment and claim the VAT back, and when I sell the job to the customer it's zero rated so theres no VAT to pay on the materials or the labour. wondered if anyone has any experience of that? what would be the costs associated with setting up a VAT reg sole trader outfit, how much work is it to do VAT returns now and when will they make sole traders do MTD?</p></blockquote><p></p>
[QUOTE="ExArmy, post: 552427, member: 37620"] I've always been just under the VAT threshold as I don't think I would be as competitive in the domestic area which is mainly what I like. I do [I]some[/I] commercial work for VAT companies but in general they are all pricks and just whinge about the price, introduce loads of hoops to jump though and take forever to pay the bills, whereas all the domestic jobs everyone is happy to see me, reasonable to deal with and they pay up when I've done the work, simple. I am interested in doing more solar jobs but supplying the gear for that is going to put me over straight away so I've not taken the plunge yet, but I was talking with my accountant recently and he said it would be possible to set up a sole trader solar company that's registered for VAT just to do all the solar jobs through. I actually suggested the idea thinking he would tell me straight away that's not allowed but he said it would be ok. the idea being I can buy all the solar equipment and claim the VAT back, and when I sell the job to the customer it's zero rated so theres no VAT to pay on the materials or the labour. wondered if anyone has any experience of that? what would be the costs associated with setting up a VAT reg sole trader outfit, how much work is it to do VAT returns now and when will they make sole traders do MTD? [/QUOTE]
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