Won't Jim just say, "Broken? What do you mean broken? HMRC is working more efficiently than ever you poor deluded accountant you." and "Post Office? What Post Office?"
FactChecker I deal with a fair few charities and my understanding is that if the landlord has opted to tax its lettings and a lessor is a charity then the charity may ask to "disapply" the VAT (ie. not pay it). So if the bowls club was a charity then that might have effect.
£7 million? And this guy is asking for free accountancy advice? Well, I suppose if he pays more taxes than he needs to then that's good for our beleagured public services.
When I was a Finance Director we always prepared statutory accounts for our auditors - you can use software or checklists to do so - and in fact when I was an auditor in my early days most clients who weren't micro-businesses had their own finance professional capable of preparing statutory accounts.
My answers
Won't Jim just say, "Broken? What do you mean broken? HMRC is working more efficiently than ever you poor deluded accountant you." and "Post Office? What Post Office?"
FactChecker I deal with a fair few charities and my understanding is that if the landlord has opted to tax its lettings and a lessor is a charity then the charity may ask to "disapply" the VAT (ie. not pay it). So if the bowls club was a charity then that might have effect.
I'm not a VAT specialist but if you yourselves are not a charity then I do not think you can opt to disapply the VAT charge.
https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim46351
Good luck.
£7 million? And this guy is asking for free accountancy advice? Well, I suppose if he pays more taxes than he needs to then that's good for our beleagured public services.
PS: Is hitting "Thanks" button the same thing?
I'm afraid this post is too technical for me - or its too early in the morning - what does it mean?
if it was this tax year then probably yes put it in a pension. Next tax year who knows, you may not get a job!
By the way where did you get advised to use this site for advice? It is supposed to be for accountants.
When I was a Finance Director we always prepared statutory accounts for our auditors - you can use software or checklists to do so - and in fact when I was an auditor in my early days most clients who weren't micro-businesses had their own finance professional capable of preparing statutory accounts.