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My client runs a Ltd VAT registered company. At the premises there is a flat which is let to a tenant. The electricity for the business and the flat all gets invoiced to the company on one bill and all VAT reclaimed. The tenant then pays the company for his portion of the electricity. How do I account for the money going into the company from the tenant. The rent does not go into this business account. What is the VAT situation regarding the electricity money reimbursed? Please help!
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