VAT On Rent
I operate a small company and my wife operates another. We each prepare the books and records for our own business and we are careful about doing things in the right way.
My company is VAT registered and rents premises from a landlord who charges me rent in the normal way. £1000+ VAT per month
My wife's business is VAT exempt.
It is my intention to let her use some of my premises for her business and to charge her a rent of £200 + VAT for the space.
Can anyone help with this?
Are there any rules about this situation that I should be aware of?
What about common costs like rates & power etc.
Thanks for you help in advance because if I get this wrong I'll never hear the end of it!
- Subsistence expenses for one man band contractor companies 78 2
- Working from home - time apportionment 282 3
- Recovering VAT on property purchase 201 2
- cross border vat 105 2
- Any Scottish members out there? 12,889 488
- What code do you put expenses under such as tea & coffee? 752 17
- How to prove to HMRC that you was not self employed? 245 12
- Can't read my handwriting 621 15
- Now Scotland has voted "No", when does England get to vote? 1,644 74
- Employing a carer 114 1
- Fees for Property Tax Return 526 16
- PRR 441 14
- Sage Line50 Journal Entry Help! 210 13
- Corp Tax Refund 166 2
- Email hacker for hire ... 385 8
- Capital Gains Tax on title transfer 274 8
- IFRS and UK GAAP Adjustment Jrnls 78 2
- Donaldson V HMRC 227 1
- Audit partner? 271 6
- Losses on FHL Property 116 1
- Raiders of the Lost Tax File 1,371
- Chartered Accountant in County Down N.Ireland 516
- National Insurance 407
- Non Resident 317
- Hands on experience of Digita 244
- Best way to take money from a business if you have unlimited EIS allowances? 220
- Employer's Helpline 186
- CIS paid under reg 9 181
- Does anyone use PS Financials accounting software out there? 149
- Commercial rental property - still Schedule A? 144