I am running my post office business and business is vat register. I am paying rent £80,000+vat to landlord for business premises. Now I am planning to sub lease the half of the premises with consent of landlord and sub tenant need to pay me £40,000 rent but sub-tenant is not vat register so he is not ready to pay vat.
1. Can £40,000 rental income from sub lease would be vatable income?
2. Is there any way around as sub tenant is not ready to pay the vat?
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