Issue 1: Early Termination Fees
Have you ever been hit with early termination fees? Well I certainly have, but what a lot of individuals and businesses don’t know, including business that charge these fees, is that VAT may not be applicable to early termination fees.
Now that I have your attention let me briefly explain:
If the contract with your supplier has a clause in it giving you the right to early termination for a fee then any subsequent charge of the termination must never have VAT applied.
For HELLP with the above contact Marlon Appleton