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Thread: To VAT or Not to VAT

  1. #21
    yourdj's Avatar
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    Quote Originally Posted by Solitaire Events Ltd View Post
    My advice?

    Go and speak to an accountant.

    They will give you professional advice.

    There is way too much rubbish in this thread that people actually aren't sure about as they are DJs and not accountants.

    Speak to the people that know.


    i would only go LTD if I hit the threshold.
    Might be worth considering if you did only corporate work or dealt with hotels etc.

    Totally not for private clients. Thats my opinion anyway.
    Your DJ - Mobile DJ The New Forest, Southampton & Hampshire. Toby
    http://www.yourdj.co.uk/ | http://www.phatdiscos.co.uk/

  2. #22

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    Quote Originally Posted by yourdj View Post


    i would only go LTD if I hit the threshold.
    You mean VAT?

  3. #23

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    Quote Originally Posted by rth_discos View Post
    You mean VAT?
    LTD = Limited Company. If you hit the VAT threshhold (currently a VAT taxable turnover of £81,000), you don't have any choice anyway.

  4. #24
    Disco Dude! DeckstarDeluxe's Avatar
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    Quote Originally Posted by Solitaire Events Ltd View Post
    My advice?

    Go and speak to an accountant.

    They will give you professional advice.

    There is way too much rubbish in this thread that people actually aren't sure about as they are DJs and not accountants.

    Speak to the people that know.
    +1. Considering the numbers we're talking about here....
    The Cheltenham Wedding DJ
    www.cheltenhamweddingdj.co.uk

    DDWES Event Hire

    www.ddwes.co.uk

  5. #25
    King Of Cheese Moderator DazzyD's Avatar
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    Quote Originally Posted by Solitaire Events Ltd View Post
    My advice?

    Go and speak to an accountant.

    They will give you professional advice.

    There is way too much rubbish in this thread that people actually aren't sure about as they are DJs and not accountants.

    Speak to the people that know.
    What great advice! I would take that advice!

    Quote Originally Posted by DazzyD View Post
    ...

    If you're determined that it may be a viable option for you my advice is to book an appointment with a really good accountant and take it from there.
    Dazzy D
    Lightning Disco & Entertainment

    Born to make you party!

  6. #26

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    Quote Originally Posted by mattydj50 View Post
    LTD = Limited Company. If you hit the VAT threshhold (currently a VAT taxable turnover of £81,000), you don't have any choice anyway.
    Totally separate things.

    You can be VAT registered whether you're a limited company or not. And you can be VAT registered even if you have a turnover under £81,000 - just at that point, it's compulsory.

    Equally, you can register as a limited company at any turnover - and there's no compulsory point where you need to transition from sole trader to limited company.

  7. #27

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    Quote Originally Posted by Solitaire Events Ltd View Post
    My advice?

    Go and speak to an accountant.

    They will give you professional advice.

    There is way too much rubbish in this thread that people actually aren't sure about as they are DJs and not accountants.

    Speak to the people that know.
    I'd add to this - speak to 2 or 3 accountants.

    You'd be amazed at how advice from accountants can vary. So speak to a few and get a feel for what they suggest and what you feel works best for you.

  8. #28
    Dinosaur Excalibur's Avatar
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    Quote Originally Posted by mattydj50 View Post
    I'm unique then as I am a DJ who qualified as an accountant.
    Altogether now:
    " Oh no you're not"!
    An ex colleague/employer of mine combined the two roles for many years.
    Excalibur. Older than the average DJ.

    www.excaliburmobiledisco.co.uk

  9. #29

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    I thought our very own new member 'casual77' was also an accountant.
    Observe without judging what you see

    Disco 4 Hire

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