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VAT (Value Added Tax) is normally levied at 17.5% on goods and services supplied in the UK but some are exempt and some are charged with 5% or 0%.
"Exempt" and "0%" might seem to be the same thing but the difference is significant in the way the tax operates.
Client's listed building at Wilderness Lane, Hadlow Down, East Sussex : VAT saved after formal negotiations with
HM Revenue & Customs.
Alterations to Listed Buildings which are dwellings or which are being converted into a dwelling(s) are zero rated for VAT (0%).
The reason you need expert help to obtain and maximise your entitlement to 0% VAT on alterations to your Listed building is that the VAT collectors (HM
Revenue & Customs) usually assess VAT on some of the builder’s work on the grounds that an alteration can be associated with repairing and maintaining the building. Repairs and maintenance carry VAT at 17.5%.
This is a matter for a specialist VAT consultant, as even a good accountant may be baffled by the rules for Listed Buildings.
Good advice and assistance with settling the amount of relief from VAT may be less expensive than you think, and the cost will be a worthwhile investment in peace of mind as well as for the obvious benefit of paying less tax.
Michael J. Flint - VAT Specialist
16 Paynsbridge Way, Horam, Heathfield, East Sussex, TN21 0HQ
Tel/Fax: 01435 813360
E-mail: mjfvat@btinternet.com
Website by
JFCDesigns and MJFVAT
Specialist
© Michael J. Flint - VAT Specialist 2008
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