Two companies, one owner – VAT on money transfers [on hold]

QuestionsCategory: QuestionsTwo companies, one owner – VAT on money transfers [on hold]
Brightn-n-Fresh Staff asked 1 year ago

A client has a Trust and a PTY. The Trust invoice a client for a job done, without VAT (Trust is not VAT registered yet).

Then the Trust transfer 80% if the invoiced amount to the PTY. Must the PTY issue a VAT Invoice for this amount? How do I record this?

(141)