Now that the standard rate of VAT has been raised to 20%, some business owners are increasingly tempted to split their businesses..
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Splitting Businesses to Avoid VAT
Published on 2011-10-08 10:19:00
Now that the standard rate of VAT has been raised to 20%, some business owners are increasingly tempted to split their businesses into different entities, so the part with non-business customers or both parts falls under the compulsory VAT registration threshold when split. This enables them not to register to have to charge VAT to those customers. The Taxman is watchful of this type of tax
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