For once, good news emanating from HMRC, who have just re-written their internal guidance on the topic of construction – their reference V1-8A. Within it, they state that double glazing and secondary glazing can, potentially, be zero rated as alterations. This is wonderful news as they have hitherto refused to accept zero rating, except in very limited circumstances. To … Read more VAT & listed buildings – possibly some good news!
The downturn in the property world has various effects. Not only are properties failing to sell, but there is a hidden sting in the tail. The reason for this is that when a developer constructs a new house for sale, he is entitled to reclaim the VAT that has been spent out on materials. If … Read more Guidance published for letting of new domestic properties