Client (who is a property developer) has planning permission to build 3 properties but wants to let rather than sell. Am assuming lease is under 20 years
Client is aware that residential property lets are exempt thus any VAT due on construction will be irrecoverable.
My initial thought would be to get them constructed on a design and build contract thus professional fees would follow the general liability. However, I have heard that HMRC were attacking this - any thoughts?
Only other thing I can think of is that builder builds and then client buys. Ciient pays no VAT, builder gets it all back.
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