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VAT on new self build for selling on


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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!

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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.

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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.    

 

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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!

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