Quote:
Originally Posted by TTDegs
Vet - this really is a can of worms you have opened here.
If I were you (or your Dad), I would seriously sit down with the Accountant for an hour or two, and find out the best way to dig yourselves out of it 
not doing (ie just ignoring it and hoping it will go away) could end up with someone (you or your Dad) with a BIG bill when the VAT man finds out.
And believe me, the VAT man will find out...
Worst case, VAT man decides to make an example of you (ie simply applies the rules that they are totally entitled to apply) and prosecutes you (or your Dad) for tax evasion.
And you really, really don't want to go there... |
To be honest I don't really know much about it all, I was just a bit shocked when I was speaking to Dad on the phone and he mentioned he wans't able to claim VAT back on the Car afterall... and since it was me that encourage him to get the car I was a bit annoyed that it was going to cost more than the dealer and I had made out at the time.
Everything with regards to the business always goes through the accountant so I've no reason to believe anything is a miss. I think its more a case of me not knowing the full details and putting the bits and pieces I do know together in the wrong order
