Got a new client who opted to tax his commercial property when bought it from previous seller saving 20k on VAT.
Now he is planning to rent to it to his own vat registered ltd company. I remember reading the GAAR that it is not allowed to be rented to connected person. The client seems to know this too and want to pay back the VAT if needed.
Anyone has any experience or link to any guidences in this matter.
I am going to call tomorrow to the Opt to Tax Team to get some guidance too.