The Government's latest initiative to reduce the tax gap in the SME sector focuses on VAT. Here I explain what businesses involved in the sector need to be aware...
If you don't plan correctly, you could potentially be subject to an unnecessary VAT charge on your build cost.
The basic position for those in the buy-to-let sector can sometimes be considered disadvantageous from a VAT perspective.
Many ‘DIY’ housebuilders and converters are currently unaware of a refund scheme which could potentially enable them to reclaim thousands of pounds of VAT.
HMRC has altered the policy in relation to the VAT treatment of dwellings formed from more than one building.