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VAT on Property

VAT on Property

Through our VAT on Property Service, we can help you to save and reclaim VAT on your property.

How can we help?

We can:

  • Ensure that you are paying the correct amount of VAT.
  • Assist you with reclaiming VAT that you have already paid from HMRC.
  • Explain the VAT implications of your plans, ensuring that you are making the most VAT efficient decisions for your property.
  • And more!

When might seeking assistance from us be beneficial for you?

The main areas where we may be able to provide valuable assistance and save you money are as follows:

Identifying the correct VAT treatment for your project – We will explain the VAT implications of your potential options so that you can make informed decisions about how to move the project forwards in the best way.
Building and conversion projects – We can help to identify if there is a qualifying conversion into a dwelling that may qualify for the reduced VAT rate of 5%.

Transfer of Going Concern (TOGC) – We can identify whether your transactions meets the TOGC conditions to be outside the scope of VAT, and how the transaction should be executed to ensure the most beneficial VAT treatment.

Opting to Tax (OTT) – We can identify whether opting to tax land and buildings (to allow you to recover VAT on expenses relating to the property) would be beneficial.

Change of intention – If you will no longer make taxable supplies from/of a property, you may face a clawback from HMRC of any input VAT on expenses relating to the property. We can help restructure your business to ensure favourable VAT treatment.

The VAT Self-Build Scheme – If you are planning to build your own new house or convert a non-residential building for yourself or your relative to live in, you may be able to reclaim VAT on specific construction costs.

Other related areas where we may be able to add value include:

  • Property ownership, acquisition, and incorporation (if appropriate).
  • Tax calculations on proposed sales of property and mitigation of SDLT

Why contact us?

We can review your specific circumstances and ensure that you are paying the right amount of VAT, claiming any applicable reliefs and fully understand the VAT implications of your plans, enabling you and your business achieve the best possible results.

Contact us today to discuss your tax requirements.
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