What % did VAT Refund and no-CIL save?

[Ferdinand]

Just trying to get a handle on the actual savings in the real world through self-build CIL exemption and zero rated VAT.

 

What % of your overall budget was saved through the VAT recovery and exemption from CiL?

 

I'm not after a number - jus an approx %.

 

My guestimate something of the order of 2-5% on a normal project.

 

Cheers

 

Ferdinand

 

[nod]

Cil £19500

Vat £29867.    100 %
 

I know quite precise I’m just going through the builds coatings in readiness for the next one 

 

[Ferdinand]

16 minutes ago, nod said:

Cil £19500

Vat £29867.    100 %
 

I know quite precise I’m just going through the builds coatings in readiness for the next one 

 

 

Thanks.

 

Are you willing to give that as a rough % of overall project cost?

 

(I may be having a conversation elsewhere about how much self-build is/should be supported by public funds - so I'm just ying to get a guestimate as to current support).

 

[SteamyTea]

34 minutes ago, Ferdinand said:

I may be having a conversation elsewhere about how much self-build is/should be supported by public funds

That will be interesting.

I don't think a fundamental like housing should be subsidised as that generally pushes the total price up.  Claiming the VAT back is really a false discount.  The price is set by what people are willing to spend, not how much they can claim back at the end.

CIL/S106 is a bit different, that really comes down to who, how and when market failures should be paid.

[Ferdinand]

6 minutes ago, SteamyTea said:

That will be interesting.

I don't think a fundamental like housing should be subsidised as that generally pushes the total price up.  Claiming the VAT back is really a false discount.  The price is set by what people are willing to spend, not how much they can claim back at the end.

CIL/S106 is a bit different, that really comes down to who, how and when market failures should be paid.

 

Indeed - perhaps best described as a "relative subsidy".

 

I would apply the same label to eg FTB incentives, key worker schemes, main dwelling CGT exemption, reduced VAT for listed building repairs, reduced VAT on restoration of empty homes,  and all the rest.

[nod]

1 hour ago, Ferdinand said:

 

Thanks.

 

Are you willing to give that as a rough % of overall project cost?

 

(I may be having a conversation elsewhere about how much self-build is/should be supported by public funds - so I'm just ying to get a guestimate as to current support).

 

I certainly give you an overall cost of our completed build was 

229k 

282 m2 over two floors 

With a D DG 

Including 393 in paving and electric gates 

165 of perimeter fencing and hedging 
 

[SteamyTea]

Going to be interesting now that John Lewis are building a load of homes for worker.

There was a bit in the local paper about the hospital not able to get workers because of shortage/high price of housing.

No sure if it is a real problem, or just that all the houses in the small town of St. Agnes are already occupied.  Bet there are many available in Camborne and Redruth area because is is a run down ex industrial place.  Think parts of Stapleford in the 1990's (when I lived there).