vat on building purchase

vat on building purchase

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Does it make any difference to vat situation if I buy a building in my own name as opposed to limited co. ?

I intend to rent out to a trading co and charge the trading co vat on rent.

I would prefer not to have building in ltd co but have been told that I would have to buy in ltd co to avoid being charged vat.

thanks for comments.
anon

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By User deleted
20th Mar 2008 14:00

Eh?
If you intend to charge VAT on the rent (often referred to as opting to tax) then you will be able to recover any VAT that you are charged on the purchase of the building.

It makes absolutely no difference whether the owner of the building is yourself or a company.

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By User deleted
20th Mar 2008 16:56

thank you.
I am most grateful for your advice.Thank you

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