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Thread: Turnover Tax

  1. #1
    Silver Member Christel's Avatar
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    Turnover Tax

    I have a friend who is employed full time but has started a grass-cutting services for farmers as a side-line - trading in his personal capacity. Would the best tax wise decision be to register for Turnover tax? And if he does, how does it work with him still earning a salary as well?
    always fear when Christel is near....

  2. #2
    Full Member EAB's Avatar
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    It will not be possible to say with the limited info.

    The best will be to sit down and do calculations based on both scenarios and to make a decision from that.

  3. #3
    Silver Member Greig Whitton's Avatar
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    Turnover Tax is based on gross turnover (not taxable income) and, as such, is a terrible idea masquerading as a convenience for SMEs.

    Founder of Growth Surge - Helping entrepreneurs create more wealth and enjoy more freedom.

  4. Thank given for this post:

    Andromeda (22-Sep-16), Ola (20-Sep-21)

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