Hi
Can anyone help on the following:
A client of mine who rents out his factory recently let slip that he had never opted to tax but still charged VAT. I queried this but he has now told me that a subsidiary company made the option to tax 20 years ago but then transferred the properties to the current holding company. the original sub. was dissolved a few years ago.
So does the option to tax also transfer or is this a problem.
Many Thanks
Replies (1)
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Option to Tax problem
Yes, it is a problem, and needs untangling. There is provision for retrospective notification of an option, but that may not be the best option. The potential problem is with the current company. Nothing can be done in respect of the dissolved company.