VAT Change

fozzeh

Hope this is the right area.

Basics of the story; became a landlord on 30/12/10. Tennant paid for 6 months in full. I requested on 23/12/10 that I would like the funds as a whole ASAP. They take a management fee of 10% + VAT.

Question is; when is the VAT calculated? The day the customer pays (not including clearing) from contract start, the day the customer pays (with clearing on top) from contract start…or when the funds clear? Just found out tenant paid by card on 30/12/10 at 10.30am.

Reason is I received the funds today and has been calculated at 20% VAT. It’s a hhuuuggggeeee difference of £6.38 but I’d rather it go to me than in Cameron’s pocket and I fill in my returns right.

Ta (if wrong area, move away!).

John_Pierpoint

I've just received three months rent due 25th December.
It does not normally arrive until somewhere near the end of January or even in February.
Very pleased to see that the paperwork purports to have been raised between Xmas and the New Year.:j The post is always slow at this time of year, perhaps the clocks are as well.;)