Is construction of holiday home standard or zero rated?
Our client owns about 4.5 acres of land and has been granted planning to build a number of wooden lodges and create a holiday park.
Am I right in thinking that the construction of these holiday homes will be zero rated? It is the intention of my client to sell some of the lodges and possibly let some of them. Does this affect the VAT treatment of construction?
I believe the planning allows people to reside at the park throughout the whole year - I think this has a bearing on the VAT treatment.
Also, does it matter if sold freehold or leasehold?
I note this previous post would seem to support my thinking http://www.accountingweb.co.uk/anyanswers/log-cabin-vat
Your thoughts welcome.
- Small employers paying people when sick thanks alot! 2,768 27
- Value pricing 240 9
- Undeclared Self Employment 1,561 12
- Audit Required 112 3
- company secretarial software 145 2
- Tax repayment for 2013-14 153 3
- Elective DeductionsModel 64 1
- Papilio UK Equity Release Mortgages Ltd 188 1
- Rental Income 302 6
- Payroll 2012/13 108 1
- I have a pain 697 6
- Sale of assets - availability of AIA to the purchaser 87 1
- convert directors loan account to share capital 179 5
- Anyone else seen incorrect tax code notices - rather worring! 736 17
- Belated VAT Exception Application 125 3
- Cash flow 149 2
- New use of home - simplified method 254 4
- CGT and PPR and Lettings Relief? 270 5
- 2 year rule? Self employed. 401 13
- How long is filing an FPS meant to take ? 1,959 32
- Residential Property Purchase Above £750K 734
- Using Sage with Sofa Categories 501
- Does anyone have an unwanted ICAEW wooden plaque? 348
- One man Company and closing payroll scheme as none paid 342
- Goods shipped inter EU and VAT Reporting 264
- VAT on Gaming Machines 214
- Sage 200 and Access Dimensions reviews 201
- Non-Resident Director - UK Tax Position? 187
- transferring simply accounting 2010 from xp to windows 7 179
- Director Loan account operation 150