Now the waiting game, whilst the Solicitors do their thing, and Christmas is now approaching. I get a call from Christie & Co, a rather confusing and worrying call, Due to the way that the vendor had set up his business; we would have to pay VAT on the purchase. EH? Frantic calls to Solicitor. Bit of background research and this is what we are having to contend with discovered on 23rd December, just before closing down for the period….When the Vendor originally took over the property it was as a tenant, whence he started his business and then at some point incorporated his son into that business along with his wife, about 4 years ago he and his wife bought the freehold, i.e. the building. Notice what’s missing. Yes… The Son.
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