I've been asked to raise a VAT invoice and am trying to work out how much to raise it for.
We are disposing of a piece of land which has been opted to tax, it has been valued at £300,000. We are not receiving any cash for this, but instead getting another piece of land which apparently has not been opted to tax, this has been valued at £100,000. So all we have is an exchange of land, but at different valuations.
does anyone know how much output vat I need to account for?