VAT planning - £1.837 million in savings
A client came to us in need of assistance after being hit by VAT obligations of £1.837 million during the purchasing of new premises which it planned to rent to its trading company.
Our advice and focus
We managed cash flow for the client, ensuring that the partnership VAT return end date meant that the client physically received the input tax before the vendor had to pay it to HMRC. We ensured the agreement had appropriate VAT clauses, and this meant that the client was able to deal with the VAT at a later date. This effective planning ultimately resulted in the client not having to fund the VAT at the completion of the deal.
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