Just clarification that the initial purchase wasn't for re-sale and the implication for the margin scheme.
It was bought as a fixed asset rather than for resale - small breakdowns, recoveries etc. Money has been spent on the vehicle in repairs etc., hence the selling price being the same as the initial purchase price. It is a workshop and not a vehicle selling garage.
He paid £8k and is selling for £8k plus(possibly) VAT - it is a commercial vehicle and it is a potential private buyer so not VAT registered.
I had issues yesterday and couldn't get any filed, but tried again today and all went through. My software flagged up problems at HMRC's end.
You have the answer on numerous replies to the VAT history etc., but for what it's worth, if your client is manipulating his turnover to below the threshold by going down the "rent a chair" route with his salon, he is venturing into even more murky waters with HMRC, irrespective of whether the trading vehicle is Ltd or sole trader.
The research done may not have been done for this particular client, but hours spent generally with staying upto date and to be able to offer a service deserves to be compensated. Similarly, it is unreasonable of clients to expect researched advice for free unless it is offered for free, eg, free initial consultations, where it would expected that recovery will be made during the relationship.
Get him to sign a letter of engagement and specify the cost should he leave you before a reasonable fee is paid - presumably a monthly arrangement. If you have invested a few hours in research etc., it is only reasonable to be compensated at a reasonable rate.
She completed & submitted her own Return and missed off employment income - hence the enquiry and now a potential tax bill as her personal allowances have been taken twice.
However there was an extension built for the foster kids accommodation that year and I can't find any specific guidance for claiming C/A's and am a little concerned with the future potential CGT implication when the home is sold is CA's are claimed.
Thanks for looking by the way.
My bad... residential and held for 21 years