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#Mid-Week Top Tip – Saving you money!  Get charged 5%VAT? Make sure you get charged the correct VAT

This entry was posted on Thursday, January 21st, 2016 by Nigel

LANDLORD REFURBISHMENT MANUAL 

#Mid-Week Top Tip – 

 

Get Charged 5% VAT –
VAT should be charged @ 5% on renovation works to a dwelling where the dwelling has been empty for at least two years when the works begin.

If you take up a service from a contractor which supply and install goods within the service, They will also need to determine the liability of those goods. If they install goods that are not building materials (such as carpets or fitted bedroom furniture) they must also standard-rate your installation charge.

Your contractor, can deduct input tax on both goods that are ‘building materials’ and goods that are not ‘building materials’ provided they relate to taxable (that is, standard-rated, reduced-rate or zero-rated) supplies provided.
Every property investor or landlord now has years of tried and tested knowledge as well as market leading new ideas and initiatives at your finger tips.

Full details can be found in Section 8 of the VAT notice 708 “Buildings and construction”.

We have decided to share this knowledge to give investors and landlords an insight into the systematisation we have within the NGU Group.
This systematisation has allowed us to achieve time and time again property investment success stories with investors and landlords like you since 2007.
Practical hints and tips on refurbishing Buy To Let properties – choose the ones you want-

CLICK ON THE LINK BELOW

http://www.ngupropertyrefurbishments.co.uk/refurbishment_manual_buy_to_let.html

 

Take action get in contact with us: 

Rock Solid Property Investment 

http://www.ngupropertyinvestments.co.uk/contact.php

 

email: mikebell@nguhomesalesonline.co.uk 

Or call: 0191 491 0333 and ask for Mike Bell
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