Are you a property developer, contractor or professional advisor?
Are you building or converting residential properties to lease or sell?
Then you NEED to read this book.
Most of the problems that happen with VAT and property development are simply because the owner/developer doesn’t understand the VAT rules properly. And because VAT is a transaction tax, once you’ve signed the contract or incurred any costs, it can be too late to change things.
The most important thing for any property developer is to include VAT planning right at the start of your project as part of your financial planning. There’s little point saving a couple of percent on financing costs if you end up paying 20% VAT for construction services or an old property that you can’t claim back.
The book will help you to save money and manage the VAT process of your development.
It has been written specially for those of you who need to know more about VAT and property development or construction as a business. It explains the important VAT rules, as well as a lot of practical information about VAT and residential property development.
If you’re a developer, it will help you to maximize your profits by knowing how to keep your VAT costs down and when you can claim from HMRC.
If you’re a contractor, you’ll be able to save money for your customer by understanding when you can charge the zero-rate or reduced rate for your work.
And if you’re a professional advisor, accountant; architect, project manager, solicitor or surveyor; you can help clients take full advantage of the VAT reliefs so that they can save money and manage the process properly.
I’ve avoided lots of legal jargon and legislation (unless absolutely necessary!) and there are links to HMRC guidance in case you need more detailed guidance.
And I also tell when you CAN’T save VAT on your costs or claim VAT from HMRC so you can budget properly from the beginning and you’re not left with unexpected VAT costs.