This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Property conversion VAT Claim query

Evee
Posts:3
Joined:Thu May 26, 2011 4:26 pm
Property conversion VAT Claim query

Postby Evee » Thu May 26, 2011 4:38 pm

Hi

My partner and I are undertaking a conversion of a Grade II Listed Barn into living accommodation, giving a total of three houses. I actually have a few questions, however I will go through one at a time if this is ok, or if someone could let me know if I could ask several questions in one post? Not sure if that would be wise though....

Any way, my first question:
My partner purchased the property 7 years ago and has been working on and off since then when time allowed. There are a total of 5 five barns two larger ones which are listed and will eventually be turned into one main house and there are a further two smaller barns (a dairy and a stable) (neither of which are registered as listed). The focus is on converting the dairy into a residential property for us to live then he will then focus on the main house and after that the stable. The total project is one site and we will be living in the main house, his father in the dairy and my son in the stable. With the timescale being that you can claim VAT within three months of the completion certificate are we allowed to have three claims when the three stages are complete or would we need to wait until the whole site is complete? The latter of which will go past the three month claim period.


(am not sure that if it is a listed site or listed buildings....)

les35
Posts:639
Joined:Wed Aug 06, 2008 3:09 pm

Re: Property conversion VAT Claim query

Postby les35 » Thu May 26, 2011 4:52 pm

The question regarding Completion depends on whether Completion relates to each individual dwelling. On the basis that there will be a Certificate of Completion for each one, the clock would start for each one. Of course that means that the invoices will have to be maintained separately.
The fact that there are three dwellings begs the question about who will be living there. You will need to retain a note of this, as HMRC will be sure to spot three claims so close together by the same person!

Evee
Posts:3
Joined:Thu May 26, 2011 4:26 pm

Re: Property conversion VAT Claim query

Postby Evee » Thu May 26, 2011 5:46 pm

Hi Les35

Thank you, it was as I thought, individual (the first will be soon hopefully I'm not sure about caravan living!!!) As mentioned previously there will be other family members living on site too.

Thank you again, much appreciated

......... watch out for my next question :? (confused and bamboozled)


Return to “VAT & Excise Duties”