Nessie Posted Monday at 22:04 Share Posted Monday at 22:04 I’m currently managing a new build with the intention of selling on upon completion. Am I correct in saying that VAT reclaim applies to all new builds, whether they’re a “self build” for living in or selling on? Thanks! Link to comment Share on other sites More sharing options...
TommoUK Posted Tuesday at 07:01 Share Posted Tuesday at 07:01 See VAT code 708. You need to work out if you qualify as a DIY housebuilder or a Developer. At face value it looks like you are a developer so you would want your contractors to zero rate their supplies. Link to comment Share on other sites More sharing options...
Nessie Posted Tuesday at 09:37 Author Share Posted Tuesday at 09:37 Thanks Tommo! I’ll have a read of that. Link to comment Share on other sites More sharing options...
Blooda Posted Tuesday at 09:54 Share Posted Tuesday at 09:54 Engage with an accountant [or other financial expert, ie not someone hanging around a forum 🤔] , it may be beneficial to set up a company and run the build through that. Link to comment Share on other sites More sharing options...
Nessie Posted Wednesday at 18:19 Author Share Posted Wednesday at 18:19 Yeah I should probably engage a tax accountant. I’ve been working on renovating period properties for the last 8/9 years and registered as a sole trader for that time. I normally handle my own accounts but it’s probably time to enlist a pro! Link to comment Share on other sites More sharing options...
joe90 Posted Wednesday at 18:55 Share Posted Wednesday at 18:55 I and others here have used this guy fir our VAT return, I am sure he will help you. https://www.vat431.co.uk Link to comment Share on other sites More sharing options...
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