VAT on payments from Eon
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clearaccounting100
Registered Posts: 49 Regular contributor ⭐
Hi can anyone help me please. I have a farmer who has received a cheque from Eon because they have equipment on his land. For this equipment being there and so that they can gain access to maintain it they have sent him a cheque for the annual period of £29.03. My client is VAT registered so do i have to allow for VAT when i complete his return? or does anyone know if this type of payment is exempt? Many thanks. x
0
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Hi
This is what is known as a wayleave and these payments are 'exempt' income for VAT0
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