Hi, vanilla property rental LTD fully funded through DL account. Sadly the renal revenues are below the £77k per annum that requires me to become VAT-able. Question I have is I think I read somewhere that you can request to become a 'VATable business' even if you are below the threshold. If this is true, why arent all property ltd's registered for VAT because property is not VATable (ie not VAT on rental) but a lot of costs are e.g agent fees, replacement parts etc
Reason this has been drawn to my attention is that I am looking at investing in one of the properties & doing a loft conversion to improve rental yield & this is circ 25-30k so being able to claim back the VAT would be quite a saving.
thoughts appreciated
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