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VAT on property

VAT on property

Hello

If a person lets a commercial property and charges VAT on the income, is the gross or net included on the tax return?  I assume net, or the person would be getting taxed on VAT!

Thanks in advance.

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07th Nov 2011 14:29

Hmm, never actually thought about it

But logically it should follow the SE treatment, it's what they finally end up with (so the net) that you include.

 

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02nd Dec 2011 17:44

It is net.

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By Old Greying Accountant
02nd Dec 2011 17:59

The b****r is ...

... when you buy a property that has had the option to tax taken, you have to pay stamp duty on the VAT!

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