VAT Property Solutions
Note: 39
The first grant of a major interest in a building to be used as a holiday home will be 17.5%. (In order for the property not to qualify for sale at 0%, the purchaser must be prevented by the terms of sale, covenant, statutory planning consent or similar permission from residing in the building throughout the year). Providing that the construction of the building satisfies the criteria of a dwelling, construction will be 0%. If not, construction will be 17.5%. Input tax will be recoverable in both instances.
Contact: info@4eyesltd.co.uk Telephone: Phillip Henwood - 0044 (0)7793 707 839
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