Family business owners

Family business owners

Clive Smith
General, Entrepreneurs, Family business owners

Hi I am a sole trader running two separate businesses.

Combined they have a turnover of over £80,000.

Do I have to be VAT registered or can I register one of them as LTD company and run the other as a sole trader and treat them as two separate entities?

Thanks

Stan V
General, Entrepreneurs, Family business owners

Hi.

I have been running a small decorating company for a long while and usually generate revenue in the £10,000s each month.
I've just been approached by a client and they want to offer a large project, more than all the work I get from all my clients at the moment but they only want to put a deposit to start and pay the rest on completion. As I usually deal with smaller clients I usually receive all or the majority of the payment upfront.

Lawrence Oakley
General, Entrepreneurs, Family business owners

Before he died, a father said to his son; “Here is a watch that your grandfather gave me. It is almost 200 years old. Before I give it to you, go to the jewelry store downtown. Tell them that I want to sell it, and see how much they offer you."

The son went to the jewelry story, came back to his father, and said; "They offered $150.00 because it's so old."

The father said; “Go to the pawn shop."

The son went to the pawn shop, came back to his father, and said; "The pawn shop offered $10.00 because it looks so worn."