Property Sector
Land & property VAT rules are particularly complex and the potential VAT savings or unexpected VAT costs can be substantial. Furthermore, VAT case law, legislation and HMRC interpretation is constantly changing in the property sector. The cost of obtaining professional advice in advance is certainly worthwhile compared to the potential costs of making an error. This is especially the case for certain types of property transactions or in certain sectors where the ability to recover or ‘off-set’ VAT costs is often limited.
Property Sector VAT Services
CRS VAT Consulting provides a comprehensive service relating to all types of property transactions including, residential and commercial construction and development, purchases and disposals and matters arising from property investment portfolios or business restructuring.
In order to achieve the best outcome, VAT on property transactions needs to be considered at the earliest opportunity, preferably before the transaction takes place.
Examples where we can help include:
- Obtaining maximum VAT relief on construction and development of residential or charitable property
- Obtaining maximum VAT reductions on property conversions
- Advising on the VAT treatment of purchases, disposals and leases in residential and commercial property
- Maximising VAT savings and apportionments on mixed use developments, e.g. construction or development of buildings with commercial and residential or charitable use
- Timely consideration of the pros and cons of opting tax grants of commercial property and managing the correct notification to HMRC
- Managing the VAT treatment of Transfers Of a Going Concern (TOGC), where property is sold with tenants or where a business is sold with a property
- Reviewing the VAT treatment of property investment portfolios
- Considering and managing the Capital Goods Scheme
If you intend to undertake a property transaction and want to know if it will pay to obtain advice then please contact us. If there is a completely straightforward answer we will tell you. Alternatively, if there are potential risks or areas where additional VAT savings can be made, we will give you an idea of what they are and a competitive quote for advising on them.
Please take a look at our recent successes page to look at some of the valuable work we have done for clients in their property transactions.