This year I started a non-vat registered limited company to selling 3D printed products which I designed. It did a bit of trade on ebay for a while but it’s now inactive, it doesn’t have any stock, fixed assets or debts and all the income its received is sat in its bank account (let’s call it the Ebay business).
I also have a VAT registered product design business which is more active.
Can I VAT register the ebay business, then have my product design business charge it for designing its products, resulting in the Ebay business ending its first year with a small loss?
Both business are young and extremely small, collectively turning over less than £10K. The more active business is operating at a small loss, which might still be a small loss but could become a modest profit, if it recieved the extra income from charging the other business for designing its products.
All advice welcomed.
I also have a VAT registered product design business which is more active.
Can I VAT register the ebay business, then have my product design business charge it for designing its products, resulting in the Ebay business ending its first year with a small loss?
Both business are young and extremely small, collectively turning over less than £10K. The more active business is operating at a small loss, which might still be a small loss but could become a modest profit, if it recieved the extra income from charging the other business for designing its products.
All advice welcomed.