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Hello from London

mattsm
in Introduce Yourself

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Hi all, I’m looking to purchase a house in need of modernisation and work, so this forum is going to be an invaluable resource!

Welcome.

 

Make sure to check out the VAT rules for houses that have been empty for either 2 or 10 years. They are moderately complicated in that different schemes apply. It's possible tradesmen should not charge you VAT or they should charge you a reduced rate. Some things like materials you might be able to claim the VAT back on. If you pay VAT in error to tradesmen you can't normally claim it back from HMRC so make sure you understand gefore accepting quotes.

 

Don't move in before work starts or you loose the VAT advantage of an empty house. Starting work and then moving in is allowed.

Edited by Temp

    • Like 1

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