Hi forum
hope someone can help and clarify my queries please..
If you build a property (residential) with a view to selling you can claim the VAT back, sale is zero rated supply so no VAT to pay?
If you build with a view to renting, your supply is exempt and so no VAT recoverable OR VAT chargeable on the rental income?
So, if you build and then sell to your children, is this allowed to claim back all the build costs for VAT purposes, have no VAT on the sale?
many thanks
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