I have a new client who operates as a talent agency and he also has a stage school which encourages actors to develop their skills to a professional standard. Until 2021 the two activities operated as separate limited companies and both were registered for VAT. At that point it was decided to consolidate both activities into the talent agency company to save costs. The stage school company has remained dormant since then.
However after a difficult couple of trading years the turnover of the stage school activity has declined and is now much less than the annual VAT deregistration threshold of £88 000. The client has asked if it would be acceptable to split the businesses back into two companies – by transferring the stage school income back to the dormant company – and not have to register this activity for VAT. All of the school’s...
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