OK, I am a sole trader atm and in my current position it is not beneficial for me to register as a ltd (as it is, I dont pay taxes, but that is mainly due to giftaid charity donations and expenses).
1 of my uncles, who has a Ltd company and is a millionaire, told me to consider applying for VAT exemption as you get paid by the VAT people VAT back.
my questions are:
1) do the VAT people pay you VAT back (even if you currently dont pay taxes)
2) do you need an accountant to get VAT registered / file VAT returns (I currently file my own tax returns)
3) can you claim VAT back on items which were bought via student discount (yet are used for business, as well as personal use ie mobiles, tablets/laptops). the reason I ask this one is because I am entitled to student discounts till autumn 2019.
We have the answer...