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opening an amateur gym.
Posted: 25 Oct 2012, 07:57
by DAVE2005
hi,im thinking of opening an amateur boxing gym in the north of england,and was wondering if i have to pay VAT on the building in which i would be renting.
the gym would be a non profit organisation and we wouldnt be earning enough to qualify for a vat registered company.
any help would be much appreciated.
Re: opening an amateur gym.
Posted: 25 Oct 2012, 08:45
by littlekinny
Aright Dave.
The below is taken from HM Revenue & Customs.
http://www.hmrc.gov.uk/vat/start/regist ... gister.htm
It may not be much help but will get you started. Someone a little more legal orientated will probably add.
From what I gather. It seems that anything under 77k turnover a year you can voluntarily register for.
Hope it helps. Is it gonna be Chorley?
Re: opening an amateur gym.
Posted: 25 Oct 2012, 08:51
by DAVE2005
Thanks mate,we're looking in that area yes.
Re: opening an amateur gym.
Posted: 25 Oct 2012, 09:09
by Mimmy
where in the north of England matey?
Re: opening an amateur gym.
Posted: 25 Oct 2012, 10:04
by DAVE2005
We're in Lancashire mate.
Re: opening an amateur gym.
Posted: 25 Oct 2012, 10:50
by TJ77
One for Rumpole he knows everything .
Re: opening an amateur gym.
Posted: 25 Oct 2012, 11:14
by Counter-puncher
MachoMan09 wrote:i've already provided the correct answer.
he has, folks.
Re: opening an amateur gym.
Posted: 26 Oct 2012, 10:44
by DAVE2005
Thanks for the info guys.all very helpful.
Re: opening an amateur gym.
Posted: 26 Oct 2012, 11:22
by pnejon
MachoMan09 wrote:Dave, as far as I can remember, even if you are CASC registered, there's no specific relief on VAT. So if your landlord is VAT registered you will be charged VAT on your rent. End of.
P.S. CASC is Community Amateur Sports Clubs. You need to register for this with HMRC if you want to benefit from tax reliefs that are available.
macho, have you ever been on mastermind?
