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January 2017

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.

‘Risky’ mortgage bubble grows as over 70,000 more taken out in a year

The high-risk mortgage bubble has continued to grow, as another 71,273 mortgages viewed as ‘risky’ by the Bank of England were taken out in the UK in just a year.

VAT exemptions for eligible bodies

The Upper Tribunal decision in the case of St Andrew’s College Bradfield (the college) could have ramifications for any not for profit entity which treats its supplies as exempt from VAT on the basis that it does not distribute profits or it only passes profits to an associated non profit making body.   

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.