Hi
I have a commercial van for sale, lets say for 10,000. When i bought the van i was self employed but never claimed any VAT as after only one month i got a full time job PAYE. Now 2 years later i want to sell the van and im being asked by prospective buyers for a VAT receipt. My asking price is the total amount of cash that i want to receive, ie 10,000 Would the buyer pay me the full price and then just try to claim back the VAT from revenue, or to sell at a competetive price am i going to have to sell it for 10,000-21% ie 7,900.
I hope ive explained my problem clear enough for someone to give advice
Cheers