Hi. I will try to be as clear as possible without rambling. Any questions please don't hesitate to ask.
We have been renovating a listed building that has not been lived in for over 10 years and have been recording and retaining receipts for materials etc. I understand Listed buildings are no longer exempt and I understand what can and what cannot be claimed.
I do have a few questions if I may because our situation is a little unusual.
The Property is listed. It consists of:
-The house which was always been a house where the miller lived.
-The mill which is attached to the house
-Barns that are separate from the house
- It seems that part of the build is a renovation at the 5% VAT rate because it has been unoccupied for more than 10 years.
- Am I right in saying that because the barns are listed by association that when these are renovated they are also 5% or could it be 0% ?
- If we renovate and join the mill to the house then is this then a conversion at 0% or still a renovation at 5% ?
Can HMRC apply 5% to some of it and 0% to other parts of it is I differentiate the costs on the documentation?
After reading the HMRC info I am still not very clear on the rest.
Also is there a time limit on the VAT reclaim. It is a big project and has taken us 3 years just to do the house part. I am worried the receipts will somehow expire and HMRC will tell me that I can't claim for what we have spent already. It could go on for 5 - 10 years who knows. We are not in a rush but of course if I submit the reclaim documentation that would be the end of any VAT exemption or that is how I understand it.
Any advice would be greatly appreciated.
Olas.
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