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Is it magic?
KEY POINTS
- A business appears to have sales of more than £200 000 but is not VAT-registered.
- Another business may be used to buy materials or customers may buy their own.
- Two sole traders may be treated as a single partnership if they have organisational financial and economic links.
- VAT threshold has been frozen at £85 000 until 2020.
How can a business appear to make annual taxable sales of more than £200 000 without being VAT-registered? That is impossible I hear you say; the registration threshold is only £85 000. This is the question I asked myself after a real situation I encountered with a bathroom fitter.
Background
Bill (real name has been changed) is a self-employed builder who specialises in the supply and installation of wet rooms. This...
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