Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hi.See paragraph 7.2 of the VAT Notice 742 here. It is a single supply for VAT purposes. Your daughters won't each benefit from an £82,000 threshold I'm afraid.I hope this clarifies the situation for you but let em know if you have any further questions.
Thanks for you clear reply - I should have seen that! - I will pay for your question now.
I have another question that I would be happy to pay again - if you can answer it.
What happens if daughter 1 sells her 50% share in Tax year 1 to Buyer for say £80,000 and the Daughter 2 sells her 50% share to same buyer in Tax year 2 for another £80,000 - so £160,000 in total
Thanks for good reply - I will try leaving another excellent rating and hopefully that will mean you are paid twice