Variable8 Sze
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RE: Reduced VAT (5%) Renovation: 2-year rule
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Reduced VAT (5%) Renovation: 2-year rule
If the work on a 2-year empty property is carried out by myself as the property owner, how can this reduced VAT applicable to the supply? If a contractor is required to claim for the reduced VAT for both the building material & service altogether, would it be OK to go through these bills to a limited company which I am part of the director and then invoice the building material supply & installation services to myself? This is not to evade tax but to make good use of the applicable tax benefit. The idea is came out from the fact that builders/contractors are in general unwilling to do the extra accounting work to accommodate the special VAT rule. Thank you. -
RE: Reduced VAT (5%) Renovation: 2-year rule
Hi, Thanks for your response. I have double checked 8.3.2 and have contacted council and utility provider. Unfortunately both of them are unable to provide me any record due to the fact that I was not the bill owner. Can you provide some examples of acceptable source of evidence? What information need to be shown on the evidence? Take utility bill as an example, is it to show the energy usage is minimal? Thanks. -
Reduced VAT (5%) Renovation: 2-year rule
The property has been emptied for 2 years from previous owner as he passed away. After my purchase, as a new owner recently (about a month) and have not moved in yet do I still get the reduced VAT? If yes, in this case what evidence I can use to prove that given I have no permission to obtain any previous documents/records as those belongs to previous owner? I contacted my council but they do not have a Empty Property Officer. Please let me know. Thank you.