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...Trust planning; LLP lowdown
Late recovery
I recently took on a client who was late in registering for VAT by eight years. This aspect has now been resolved and he has completed and paid the liability on an eight-year VAT return.
Most of his business has been through one customer so he has attempted to recover VAT from this customer by issuing a VAT-only invoice for £70 000 covering the last eight years of sales.
However the customer has said that he can only accept an invoice for the last four years because the first four years are out of time under the error adjustment rules which are time-capped at four years. This does not seem a fair outcome to me but I can see his logic.
Can readers offer any information or advice here?
Query 18 180– Timing Man
Double death charge
A non-domiciled...
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