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Leger


Master Book-keeper

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Ltd Company not trading - VAT return question
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One of my clients will not be trading the Ltd Co this next year due to franchise prohibitions. With regards to VAT is it best to do nil returns or de-register until she starts trading again?



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John 

 

 

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Shamus


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There is no point to the VAT registration until she starts trading again so no legal obligation to be registered, no advantage to the owner to be registered (i.e. no purchases to reclaim VAT against) and only a possible downside of missing a VAT lodgement or payment. Also consider the added pending complication of impending MTD.

Personally, if expecting the period of not requiring registration to be beyond one accounting period I would go for deregistratin until needed again.

Thats my opinion, others may differ.

kindest regards,

Shaun.

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Shaun

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Leger


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Thanks Shaun

I was edging towards that as well.  Strictly speaking there will be a MTD filing for April to June although it will be minimal.   



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Artois


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If it is going to be a while before the business starts to trade again I would de-register, unless of course you want to charge a fee for filing a Nil return



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Doug

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Cheshire


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I vote de-reg.

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 Joanne 

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Leger


Master Book-keeper

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Thanks Joanne and Doug

I wouldn't want to charge a fee just for the sake of it. so I will advise to de-register and register again when she's starts trading again.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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