Property VAT

Spring Budget 2024: VAT & SDLT Updates

by Berthold Bauer on March 6, 2024

The Budget focused heavily on boosting growth for SMEs, productivity funding across the public sector and rate changes in various credits and personal taxes, which left little room for VAT & SDLT announcements. However, we have cut through these for you and summarised those specific to VAT & SDLT below.

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Berthold BauerSpring Budget 2024: VAT & SDLT Updates

HMRC announce long awaited improvements to the DIY VAT Refund Process

by Berthold Bauer on December 8, 2023

At last, HMRC have introduced online submissions and have extended the deadline for the DIY VAT housebuilders scheme from the 5th December 2023.

The scheme allows individuals who build their own home to receive a refund of the VAT they have paid on eligible building materials to be installed in their home. The refund also applies to non-residential to residential conversions as well as for the construction of a new charity building used for charitable or relevant residential purposes.

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Berthold BauerHMRC announce long awaited improvements to the DIY VAT Refund Process

Spring Budget: VAT for the Building and Property Sector

by Berthold Bauer on March 17, 2023

On Wednesday 15th March 2023, the Spring Budget was delivered by Jeremy Hunt, Chancellor of the Exchequer. The Budget covered a number of measures which you can find here. We have covered a couple of key VAT updates specific to the buildings and property sector below.

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Berthold BauerSpring Budget: VAT for the Building and Property Sector

Construction Reverse Charge process starts on Monday [March 1st]

by Berthold Bauer on February 25, 2021

After a number of postponements, it is here. The new Reverse Charge for Construction Services will take effect from 1 March 2021.  If you have not already put processes in place, it is not too late to do so, and in the main the HMRC guidance is clear and well written https://www.gov.uk/guidance/vat-reverse-charge-technical-guide

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Berthold BauerConstruction Reverse Charge process starts on Monday [March 1st]

Liquidated Damages: retrospective VAT treatment & corrections

by Berthold Bauer on September 8, 2020

Following EU Tribunal Cases (VAT being a European Tax and largely unaffected by Brexit); HMRC have changed their stance on many forms of compensation payment – and with particular regard to the Construction Industry – how Liquidated Damages are treated.

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Berthold BauerLiquidated Damages: retrospective VAT treatment & corrections

COVID-19 VAT Payments deferred

by Berthold Bauer on March 24, 2020

VAT Payments deferred for three months

HMRC have just announced that for any Return falling within the window 20 March to 30 June, payment can be deferred until the year-end. 

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Berthold BauerCOVID-19 VAT Payments deferred

Restitution relief for Disabled Adaptations

by Berthold Bauer on August 30, 2019

HMRC have recently confirmed their stance on ‘lost space’ in relation to the creation of bathrooms using an existing room in a disabled persons home – this was previously known as ‘restitution relief’.

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Berthold BauerRestitution relief for Disabled Adaptations