Originally Posted by
GMavrick
Yes, that could happen, most likely I would close the company if I got a permanent job, and because the company would have made a loss the VAT man shouldn't come knocking.
So you're in a situation where you have claimed back VAT on the expectation of charging VAT on future sales. And those sales then never materialise.
And you think that the VAT man won't want his slice back? Well, good luck with that.