Hello all
Asking for a mate.
He bought a commercial property last year for 90,000 and did not pay the VAT 18k (TOGC) as advised by his accountant because the seller was charging VAT. He let the property and was charging VAT on rent.
He is VAT registered
He also has LTD company as used car dealer and VAT registered. Now he wants to move to this property.
Is is time to to dis-apply for VAT registration and pay back the VAT claimed because he is a connected party gov.uk/guidance/opting-to-tax-land-and-buildings-notice-742a#sec13.?
thanks
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