VAT Registered Property Developer - Input Tax

I'm a VAT registered property developer usually buying land and building new residential properties for sale. For the first time I have purchased a residential property to rennovate and sell which I know is exempt and therefore blocked from claiming input tax. However I am also in the process of purchasing land to build a new residential property for sale. My question being, can partial exemption apply in one VAT period and not in another? In my current VAT period I only have expenses in relation the the rennovation but in the next quarter I will have expenses for the new build too.

Hi Kam Mc,

If you are making both taxable and exempt supplies and you incur input tax in relation to these then you are partially exempt.
The partial exemption method is done over a year, however there will be periods in which you will be making only taxable supplies or only exempt supplies.
As long as you only recover the VAT relating to the taxable supplies via the methods described below then that's fine,
3. How to calculate how much input tax you can recover

Thank you.