VAT Option to tax Commercial Property
A client opted to tax a commercial property for VAT a few years back. VAT was reclaimed on some major works on it.
He is now wishing to convert the whole property into flats for residential use, to which VAT does not apply. What happens to the earlier option to tax and will he need to repay any VAT?
- Paying salary one month in arrears 1,718 27
- Online CT41G 141 6
- RTI Queries 264 5
- VAT on cash taxi fares 85 1
- SDLT on sale of pub freehold 45 1
disapplied