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!
- Tax treatment of alterations to property 69 2
- Moving to the cloud 613 9
- Iris open space/doc exchange for SATRs 147 2
- How long are you waiting for appeal reply 70 1
- Companies house strike off 49 1
- How much to charge for payroll? 729 16
- When do we qualify for state pension? 154 2
- Unincorporated charity transfer to CIO 125 4
- BTC vs Digita 977 29
- Seeking a tax case 259 8
- Has anyone tried calling HMRC to get tax on dividends put in code? 289 4
- See you all on the other side 238 5
- VATABLE Income 287 3
- Auto enrolment contribution rates 230 2
- Different Filing Dates - Help! 268 7
- What are we calling cloud now? 492 6
- P11D software 102 1
- Write off of loans FROM participators 533 9
- VAT - business splitting 235 3
- Income tax or Capital gains tax? 586 16
- HMRC Joint Filing 522
- Capital Contribution towards a company car 392
- Capital Reduction & Impact on EIS Shares 351
- IRIS and FRS 102 325
- Capitalising Finance Lease 292
- USA help 283
- National Minimum Wage issue on Directors joining a Workplace Pension 246
- Capital gains on rental property 228
- Sage Coretime 215
- Dormant company accounts under FRS 102 209