Limited Company VAT on New Build
Posted: 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?
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?