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Where Taxpayers and Advisers Meet

Limited Company VAT on New Build

TEB
Posts: 1
Joined: Tue Oct 30, 2018 1:55 pm

Limited Company VAT on New Build

Postby TEB » Tue Oct 30, 2018 2:47 pm

Hi, I have seen similar post on this issue throughout the forum but hoped to get some clarification on my circumstances.

I purchased a derelict property in September 2017, demolished it in preparation for a new build. I set up a limited company with a builder friend with the intention of building the new property to be later sold. All invoices are going through the limited company.

Questions
- can I claim back VAT on materials purchased for the construction?
- will the property be sold as zero-rated VAT?

les35
Posts: 548
Joined: Wed Aug 06, 2008 3:09 pm

Re: Limited Company VAT on New Build

Postby les35 » Tue Oct 30, 2018 5:06 pm

You can claim VAT back.
Sale of a new dwelling is zero rated. Sale of a new commercial building is standard rated.
Monthly VAT returns during the building phase?


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