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A valiant VAT adviser comes to a family’s rescue
KEY POINTS
- The flat rate scheme and bad debt relief can produce unexpected VAT repayments.
- The interaction of rental and trading income.
- Staying abreast of VAT tribunal decisions can prove
- very beneficial.
- Input tax can be claimed in respect of exempt activities subject to de minimis limits.
- VAT repayments and disclosure to HMRC.
Joe and Betty have had a disastrous year. Their two businesses have lost money and they have had a range of other challenging issues to deal with.
To make things worse Joe is a fanatical football supporter who follows Liverpool so has had to shoulder even more pain and suffering watching his favourite football team lose so many matches this season.
They are not the team they used to...
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