Latest News

Filtered By Category: Property & Construction

Dec 18 2023

New online service for VAT DIY Housebuilder claim

Categories: Property & ConstructionTaxation

HMRC have launched a new online service which allows DIY housebuilders the ability to recover VAT incurred on their build.  This should hopefully speed up the VAT reclaim process. Previously the claims had to be done manually and involved sending paperwork by post to HMRC. For some background information, the DIY Housebuilder scheme tries to more

Aug 17 2023

Gross payment status under the CIS

Categories: Property & Construction

Gross payment status is a desirable goal for subcontractors operating under the Construction Industry Scheme (CIS) as it allows them to receive income without tax deductions. It can also improve your cash flow and business standing as a reputable contractor. To qualify for gross payment status, contractors must apply to HMRC and show they meet more

Sep 22 2022

Recovering VAT from Residential Property Refurbishments

Categories: Property & ConstructionTaxation

In most cases, VAT incurred on the refurbishment of residential property is not recoverable. However, there are some instances where it may be possible to reclaim some of the VAT. In this article, we will look at residential properties that are purchased, renovated and then either let out or sold. Generally, property costs for maintaining, more