Flat Rate Category for Landlord

Flat Rate Category for Landlord

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Hello

Could anyone tell me which Business Category a commercial landlord would fall into for VAT flat rate scheme.

Also am I right to say he would benefit from this scheme, as his Ltd business has one commercial building with a rent below £150,000 but virtually no purchases.

Thanks

W

Replies (10)

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By User deleted
31st Mar 2014 15:54

What is the property used for?

.

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Replying to carnmores:
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By Wyn
31st Mar 2014 15:57

Builders & Timber Merchants.

Builders & Timber Merchants.

 

 

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By User deleted
31st Mar 2014 16:00

For avoidance of doubt, then

Trading from premises or only used for storage?

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By Wyn
31st Mar 2014 16:03

Trading.  Trade counter and

Trading.  Trade counter and retail.

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By Wyn
31st Mar 2014 16:08

Are you saying that the nature of the tenants business has an affect on the landlords position?

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By ireallyshouldknowthisbut
31st Mar 2014 16:29

.

"Also am I right to say he would benefit from this scheme"

That is a maths question. If you don't understand the maths then for goodness sake don't advise!

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Replying to John Stone:
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By Wyn
31st Mar 2014 16:47

I'm only his bookkeeper, trying to fathom why his accountant hasn't suggested this after 20 years of the same situation, and wishing to be sure of the facts before suggesting it to client and his accountant.  As for being a maths question,  it cannot be calculated until the category is recognised, that my point.

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By carnmores
31st Mar 2014 16:39

ireallyshouldknowthis

with a name like yours you have the gall to say that , sad.....

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By User deleted
31st Mar 2014 16:51

Nature of business

Yes the tenant's activity could affect the landlord's position - provision of storage facilities only is different to renting property for other trading purposes. In your client's case I would suggest that the appropriate category is "Real estate activities not listed elsewhere"

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By Wyn
31st Mar 2014 16:55

Many thanks BKD

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