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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PROPERTY - 26.03.2024
VAT on variation and surrender fees?
You no longer need to occupy all floors of the building that you are renting. You are discussing several options to reduce your rental costs, including paying a variation fee to change the terms of the lease, but what are the VAT issues to consider?
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RENTAL INCOME - 28.02.2024
What if you’ve lost your option to tax election?
You’ve signed a lease with a new tenant for the commercial property you’ve owned and rented out for six years. The tenant has asked for a copy of your option to tax confirmation letter from HMRC but you cannot find it. What should you do?
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