That's what I thought but wanted a second opinion. Many thanks!
Appreciate and value the input by both of you.
I would like to thank you for your detailed reply. Apologies for late reply as I just came back from holidays. However I shall look into your advise. BW
That's great. Many thanks for your prompt reply. I have been looking into this for sometime but could not find a definite answer. Called HMRC this morning and they told me that someone from their technical team will call but it may be after Christmas holidays.
Your reply makes sense. Most appreciated.
This makes sense.
Dentists are vat exempt.
Appreciate your prompt reply. However by doing this business rates won't show in P&L Account at all. For a principal dentist, who owns the practice but financial statement is showing no business rates. Does it sound right, from a presentation point of view?
You are right. I believe HMRC uses "Connect" which is a very powerful tool to gather any information they want to find out.
Appreciate your detailed reply. I started filling up form for one of our clients and things started getting clearer. All the years are there on HMRC's form and it is up to the clients how far they would like to go back.
The one which I did, I disclosed 5 years and that's when the client started receiving overseas investment income.
Many thanks for your input. I was also inclined to put it as one property. However I never came across with such situation hence picked your brain.
Anyhow facilities such as kitchen, bathroom etc are shared. Rates bill is one for the whole property. I think I can now comfortably put it as one property :-)
This makes sense and I appreciate your helpful comments. To the point.