PROPERTY - 02.10.2024
Selling your trading premises: hidden VAT traps?
You have traded from your office or warehouse for five years since you purchased it and now wish to relocate to new premises and sell the building. What VAT issues should you consider before making the sale?
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VAT - 30.09.2024
VAT on furnished holiday lets after 5 April 2025
Our subscriber is a sole trader and owns a property jointly with her husband which they let as holiday accommodation. The rental income is allocated 90% on him, but from April 2025 new rules will attribute 50% each. As a result, our subscriber expects her turnover to exceed the VAT registration limit. Can she avoid registering?
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OPTION TO TAX - 01.07.2024
Can you avoid charging a new tenant VAT?
One of our subscribers bought a warehouse three months ago and was not charged VAT but still opted to tax the building with HMRC. They will rent it out to an institution which is partially exempt. Can they avoid charging VAT on the rent?
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VAT - 24.06.2024
Selling a holiday home - what about the VAT?
Our subscriber owns a cottage which he lets as holiday accommodation. He plans to redecorate, make minor improvements and then sell the property. Can he reclaim the VAT on these costs and, if so, how will it affect the VAT position when he sells?
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BUY-TO-LET - 04.06.2024
Can you claim input tax on buy-to-let costs?
To take advantage of lower prices, your business has purchased a buy-to-let residential property to rent out. Even though your rental income will be exempt from VAT, how can you potentially reclaim input tax on related property costs?
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COMMERCIAL PROPERTY - 04.06.2024
Avoid VAT on property purchase price?
You are buying a commercial property where the seller intends to charge you VAT because they opted to tax the building with HMRC. Under what circumstances can you avoid the charge or, alternatively, claim it as input tax on your own return?
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