What’s this worth then?

[doobin]

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Who buys a brand new 8 ton then does nothing with it for four years?

I wonder if they folded a company to loose the vat? Not sure if that’s even possible with a large asset like that on the books.

 

[Gecko]

Who buys a brand new 8 ton then does nothing with it for four years?

Bought it during COVID and the busness didn't survive at a guess.

 

[DaveDCB]

LEIGH PLACE PROPERTIES LIMITED filing history - Find and update company information - GOV.UK

LEIGH PLACE PROPERTIES LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

Not short of a penny…!

 

[groundworker]

Bought it during COVID and the busness didn't survive at a guess.

Maybe the owner didn't survive either

 

[DaveDCB]

Pics taken at his house as per company details/google earth stalking

 

[DaveDCB]

Here’s a question… how do you prove a machine or any item for that matter has no vat due on it?

Unless the fella shows you an invoice in his un-registered name then who’s to say it’s not just being sold on the side? I’m sure we have all come across it before…

 

[doobin]

Here’s a question… how do you prove a machine or any item for that matter has no vat due on it?

Unless the fella shows you an invoice in his un-registered name then who’s to say it’s not just being sold on the side? I’m sure we have all come across it before…

Presumably its his issue with HMRC not yours though? Ie. it's illegal for them to not pay vat after the money is received, it's not illegal for you to agree to buy it at X price.

 

[DaveDCB]

I guess so, he’d just have to pay the vat within the funds received.
Other adverts which say no vat.. but are marked up 20% to account for the vat loss

 

[groundworker]

What's the score if you buy kit when VAT registered then deregister for VAT before you sell? Technically VAT is due on sale but there's no mechanism for you to collect and pass to HMRC?

 

[doobin]

What's the score if you buy kit when VAT registered then deregister for VAT before you sell? Technically VAT is due on sale but there's no mechanism for you to collect and pass to HMRC?

im pretty sure when you deregister you have to account for and pay the vat back on the value of goods you still own

 

[DaveDCB]

im pretty sure when you deregister you have to account for and pay the vat back on the value of goods you still own

This is correct,
I’ve just had to do it altho I sold everything to my Ltd company.. you get £1000 grace so to speak, so any odds and sods don’t need to be accounted for… amazing how many items you occur with a nominal value of £1 over 20 years

 

[Monkeybusiness]

I’d imagine he’s bought it as a way to lose a bit of tax out of the business, and has now sold it to himself at whatever it is written down to on the books (paying the vat to the business on the £15/20/25k he is ‘paying’ for it). After that it’s just a private sale for as much as he can get for it!

 

[groundworker]

Why bother with the idig plates, tracks and thumb and if it's just a tax dodge though?

 

[doobin]

I’d imagine he’s bought it as a way to lose a bit of tax out of the business, and has now sold it to himself at whatever it is written down to on the books (paying the vat to the business on the £15/20/25k he is ‘paying’ for it). After that it’s just a private sale for as much as he can get for it!

One of those ‘it’s ok unless you get investigated’ tax dodges then!

 

[DaveDCB]

Anyway, got to be worth 50k! Deffo if your not vat reg!!