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All news by: Paul Fenner, Lisa Burnside

Converting a property? Convert the VAT rate to 5% to make huge savings

The 5% reduced rate of VAT is available for a wide range of residential conversion and renovation projects, but it is often overlooked. Applying 5% rather than 20% VAT can dramatically reduce the construction budget.

Have you fully considered your option to tax position?

Making the decision whether or not to exercise the option to tax in relation to property is not always straightforward, and it is essential that the ongoing VAT and commercial implications of any options to tax are continually monitored and reviewed.