They are sub letting the property and get charged vat on the rent & service charges by the landlord.
Also, they spent a substantial amount on refurbishment on which there is a chunk of VAT to claim back.
Can you clarify on the 20 year commitment please?
Thanks Jason. That's really helpful. We can provide copies of the invoices as they were genuinely done from April onwards.
Do we use the same form as we do for the normal option to tax application and perhaps send a cover letter that we want to do a belated application?
Thanks and agree that a helpline is much better than a library. Most of queries I get are tricky ones which may be difficult to just look up in a library.
Are there any providers who do just the helpline?
That's helpful thanks. Are you tied into 5 year contract? And how easy it is to get out of the contract. The general view is that it is very difficult to get out.
With DLA stripped out there is net liabilities of £7k. There is overdraft of £8K and stock of £14k. Future prospects aren't great and the client is thinking of closing the company in future.
My answers
They are sub letting the property and get charged vat on the rent & service charges by the landlord.
Also, they spent a substantial amount on refurbishment on which there is a chunk of VAT to claim back.
Can you clarify on the 20 year commitment please?
Thanks
Yes they do have a substantial input VAT to reclaim every quarter.
Kind regards
Will do thanks for reminding.
Kind regards
That's great. Thanks for the help once again.
Kind regards
Thank you David. Appreciate it.
Kind regards
Thanks Jason. That's really helpful. We can provide copies of the invoices as they were genuinely done from April onwards.
Do we use the same form as we do for the normal option to tax application and perhaps send a cover letter that we want to do a belated application?
Thanks once again
Thanks and agree that a helpline is much better than a library. Most of queries I get are tricky ones which may be difficult to just look up in a library.
Are there any providers who do just the helpline?
Thanks
G
Thanks for the reply. That's helpful.
That's helpful thanks. Are you tied into 5 year contract? And how easy it is to get out of the contract. The general view is that it is very difficult to get out.
Thanks again
G
With DLA stripped out there is net liabilities of £7k. There is overdraft of £8K and stock of £14k. Future prospects aren't great and the client is thinking of closing the company in future.