Advise regarding concierge Business?
Hello all. Just stuck on a tricky situation and donot know how to proceed.
A cleint is looking to set up a concierge service, run via a Ltd.
The company arranges, butlers, housekeepers, buys good for them, food, chauffeur service etc for clients and bills them at the end of the month.
The problem that has arisen is that one of the clients want to prepay £60,000 and then wants them to deduct the invoices from that.
1. Is this allowed? How can this be worked around in the business, if they took this payment?
2 Is there any potential future VAT issues, if you have taken £60k prepayment and approaching the registration Threshold.
3. What would the be the correct way of handling this type of issue.
Thanks in advance for your help.
- Buying a company for £20,000 from owner how it works? 488 8
- Seeking advice: Retired self employed working from home 279 3
- Introduction of assets to Limited Company (Comic Books) 295 12
- Moneysoft Payroll 218 4
- Capital Allowance on Vehicles - CT600 130 2
- Has Microsoft taken a huge bite out of Apple 932 20
- Seeking advice: Do you pay tax on donations if you are not a registered charity? 262 4
- Practicing without a Practicing Certificate 944 14
- BTL property and holdover or other relief 187 4
- Client right to working papers 1,548 11
- vat gross margins 192 2
- Employer PAYE Refund 219 4
- e mail 236 1
- Auto enrolment 582 9
- HMRC Debt collectors 1,361 6
- VAT on new build property 169 2
- Auto enrolment 302 9
- SAGE 50 2011 166 1
- Are there any auto-enrolment engagement letter templates? 1,639 36
- How much do you charge for Accountant's Reference? 1,883 22
- NHS finance professionals 672
- Auto Enrolment and Foreign employers 413
- Foreign Pension Contribution 384
- Employee's statement of sickness (SC2) form - no longer available as downloadable pdf 371
- vat gross profit percentage margins 368
- Pre Season Invoice dated September how do you treat the VAT as not due until May 16 355
- SWAT AML v Anti Money Laundering Compliance Plus (AMLCP) 315
- Does pension term assurance count for unused relief purposes? 285
- Management reporting dashboards and cloud accounting 245
- IFA income recognition & reporting 215