Hi. I am planning to buy land (via my newly formed Property development limited company) with planning approval for 3 houses. The agent has advised that I will need to pay VAT (£65k)on the purchase.
First question is - Is the stamp duty calculated on purchase price inclusive of VAT?
Then My company will contract out the design and construction of these houses to one of our contractor. And once construction is completed, my company will sell these houses
I need advise on the VAT implications and the best way to recover the VAT.