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.
- How will auto enrolment affect accountants? 1,481 41
- Purchase of shares and goodwill 153 3
- Directors Remunerations and Employees on CT600 99 1
- Anyone Heard of This Outfit? 283 1
- How can I tell what returns are outstanding on HMRC online? 236 3
- Practice management - that old chestnut....... 1,236 19
- Suppliers for Online Card Payments? 372 6
- Go Cardless 386 10
- Self assessment tax arrears 333 3
- Mehjoo 336 2
- Tax Return Member LLP 157 1
- How to prove income for a mortgage if you have no SA302s 413 5
- Amazon Fees, Sage VAT/Tax code T20? 200 4
- SA302 348 7
- US Employment Income - Double Tax Treaty 297 13
- Bringing money to Uk 303 4
- Capital Allowances on Furnished Holiday Lets Business 219 4
- Hmrc software 264 3
- What expenses can be claimed after a move to Cornwall? 202 1
- Hosted email exchange 195 5
- Xtuple 524
- Qtac payroll for bureau 357
- Confused - Professional Association a Mutual trader, or not? 301
- Industrial & Provident Societies 294
- Data transfer from Sage Line 50 to VT Transaction+ 238
- VAT Payable on Expenses for Non-VAT Registered Ltd Co 216
- Why would HMRC offer to close an investigation by contract settlement 213
- Domain name sale and limited company 183
- CIS schemes 179
- Director legal fees in loose connection to the company 156