VAT and flipping dwellings

VAT and flipping dwellingsOne of the most common types of property developing is the practice of “flipping”; i.e. buying an existing dwelling, typically a house, renovating it and selling it.  Very often these deals are done within a relatively short timescale,...

2019, VAT, Brexit and all that…

2019: VAT, Brexit and all that…. Well, here we are back again with Brexit on the news all the time  And in typical British style, it’s beginning to feel like a Monty Python sketch or at least a real, honest to goodness, British farce. HMRC has issued some guidance and...

Renovations and the 5% VAT rate

The most common misunderstanding about VAT,  renovations and conversions is when you can get the 5% VAT rate for good and materials, so I thought that I’d try to clear up the confusion.  As I’ve explained below, there is a very important distinction...

Not another VAT newsletter: October edition

Brexit is only a few months away, but with no deal on the table yet, there is very little definitive information about the VAT implications for businesses.  HMRC has started writing to businesses with limited guidance so watch out for information, especially if you do...

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