by Marie Stein | 12 May, 2019 | Residential Property
In the past few months, I’ve had queries from a couple of developers about claiming VAT on costs. In both cases, the developers have converted old residential homes into apartments, selling or intending to sell long leases in the newly converted apartments. ... by Marie Stein | 28 Apr, 2019 | Residential Property
If you want to avoid mistakes and unexpected VAT bills, you need to do the VAT planning for your development as part of the initial financial planning for the project. It might seem obvious that the VAT cost of a development is the difference between the VAT you pay... by Marie Stein | 12 Apr, 2019 | Management services
The most common misunderstanding about VAT and renovations is when you can get the 5% reduced rate. So I thought that I’d try to clear up the confusion. The basic rule is: If you are purchasing goods only, the retailer has to charge 20% VAT. That’s it. ... by Marie Stein | 4 Mar, 2019 | Management services
I’m often asked if it’s okay to “do it this way” to avoid a VAT liability. More recently, a potential client with a potential £80k liability said “I’ll pay you if you can find a way out of this VAT cost”. This was not a grey... by Marie Stein | 17 Feb, 2019 | Management services, Newsletter
We’re all in Brexit preparation mode at present and HMRC has issued updated guidance for a no-deal Brexit as well as sending letters to those businesses who trade only with EC suppliers and customers. As always, keep an eye out for information that is relevant... by Marie Stein | 5 Feb, 2019 | Management services
Check out the information on HMRC’s no-deal Brexit page for detailed guidance about how things will work from 1 April if we leave the EC without a deal. by Marie Stein | 15 Jan, 2019 | Residential Property
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,... by Marie Stein | 7 Jan, 2019 | Management services
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... by Marie Stein | 3 Dec, 2018 | Management services
I know that I talk about management charges A LOT. And there is a VERY GOOD reason for it. For the 10 years or so thta I’ve been running this website, every month over 60% of all of the searches to this website contain the words “management... by Marie Stein | 27 Nov, 2018 | Management services
HMRC has recently issued guidance to confirm the VAT exemption for management services for freehold owners of residential property. One of the most confusing issues relating to property is the VAT liability of the care, maintenance and repair of “common”...