OK, here goes. Am sitting here reviewing a contract and need to decide whether a payment of £1.3million payable by a guarantor (A) is consideration for a supply between two other parties (B & C) and therefore subject to VAT, or alternatively whether it represents comnpensation for the termination of the contract - thereby not representing consideration for a supply and outside the scope of VAT. A third alternative is that it represents a fee for a fourth party's (D - the parent company of C) £5.5 million loan to B, similar to an interest payment.
We don't want to have to cough up VAT here if at all possible as this would stick, but the exact position isn't clear. I'm thinking we maybe have a sound enough case to go down the "compensation" route - but what do you think nolly?
just thought I'd pop on and see what was occuring. Was doing some fine tuning to the old ipod and just dropped by to say hi. Past my normal bed time but will have a lie in before a fry-up and off to Hull.
I, on the other hand, am sitting here f***ed off with the world in general after cabling monkeys turned up an hour late after work today to do a job they were supposed to do last week, at no notice, and left me there until sodding 11:00
Just about to go to bed - safe and warm in the knowledge that I've got to be up at 5 o b***ard clock to drive round the south of England putting servers into eight of our buildings because I can't rely on the numpties I work with to do it properly.
I think you need expect advice and I wouldn't accept it from anyone on here even if the figure involved was £1.30.
As for the fry-up, I agree must have black pudding but not tomorrow as I'm cooking it and it'll need all my culinary skills to cook the eggs, bacon, chipolatas, hash browns, beans and mushrooms.
Comments
I'm here too
We don't want to have to cough up VAT here if at all possible as this would stick, but the exact position isn't clear. I'm thinking we maybe have a sound enough case to go down the "compensation" route - but what do you think nolly?
Just about to go to bed - safe and warm in the knowledge that I've got to be up at 5 o b***ard clock to drive round the south of England putting servers into eight of our buildings because I can't rely on the numpties I work with to do it properly.
As for the fry-up, I agree must have black pudding but not tomorrow as I'm cooking it and it'll need all my culinary skills to cook the eggs, bacon, chipolatas, hash browns, beans and mushrooms.