Hi Everyone,
I have a client who runs a FHL and has recently registered for VAT on a cash basis. The property is rented out usings four different agents and also by referral/directly with owner.
I have been provided with the various statements and booking details for the period, but am unsure as to what exactly needs to be reported on the VAT return. Will the income be the actual amounts received during the quarter - i.e. any monies remitted to the bank account, or would it also need to include the payments received by the agents during the period?
I have been unable to find a definite answer online so am hoping someone here can help!
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