Guides & Publications28 Jul 2023
Alliotts Focus – Autumn 2023
In the Autumn edition of Alliotts Focus we look at; Keeping on top of scams, Managing Corporation Tax, Rental Market Reforms, and a look at HMRC investigations
Articles
With the rising cost of refurbishment/construction
With the rising cost of refurbishment/construction in prime central London, one area that can help to reduce costs significantly is being able to take advantage of the reduced rate of VAT of 5%.
There are some costs that will not qualify for the reduced rate e.g. fitted bedroom furniture, professional services, landscaping etc. The qualifying services are limited to work on the actual building and work to create access, including access of utilities. However, qualifying work includes improvements, such as extensions, as well as ‘making good’ and decorating.
As with most taxes VAT in this area has many complex rules and is an area that professional specialist advice should be obtained before commencing a project.
More & Other Musings
View all related contentGuides & Publications28 Jul 2023
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