vat reclaimed on Self Build House now to be Holiday Lets
A client has built a new house, as they live in a tied cottage, and have reclaimed the vat as a self build earlier this year, but they now plan on using it for furnished Holiday Lets until they need it if and when the job finishes. Is this a problem as it will be a business and therefore the vat should not have been zero rated by the builder or reclaimed. Could the vat then have to be paid or are they ok. Thanks
Jean




They should be OK.