VAT ON PURCHASE OF COMMERCIAL OFFICES

Hello

I just have  question related to VAT. A partnership is looking to purchase a commercial property (offices) for approximately £700-£750K + VAT.

 

My question is related to the VAT element.

 

Is the VAT amount paid for the property regarded as a straight forward INPUT VAT that can be claimed back in full once the purchase has been made.

 

I was told that because it is a capital expenditure that the INPUT VAT would have to be claimed back over the 10 year period?

 

 

Thanks in advance for your help.

 

Manzar

Comments
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Input tax on commercial property - it depends!

leshoward |
leshoward's picture

What use will property be put to?

DMGbus |
DMGbus's picture

VAT recovery

Paul Bonsor |