I have come across this first time, My client sold business in july. I used to calculate his vat through ESP(Estimated selling price method). his last vat is due, he traded for only one month in last quarter, since he was gonna sell the business he did not do much purchase, his purchase was only £2500 in july incl vat and he sold his some of old stock as well. but he made sale of around £8500. if i calculate his vat through esp system he will not be paying much vat at all, in other words it comes to only few pounds. should I go ahead and file the return or am I doing something wrong? please Help.
18th Oct 2011
0
vat return
vat return