Can someone clarify some points for me:
If a ltd company contractor has bought some land and is going to pay someone to build a new property for the company (which will then be sold on), they can reclaim VAT on the costs (which are not zero rated) throughout the project via their quarterly vat returns. No VAT will be charged on the sale.
If an individual builds a house and then rents it out is there any way of reclaiming the VAT or is it only possible if they live in it and do not rent it out. In which case they would need to wait until the end to reclaim the VAT.
If a sole trader carrying out consultancy work is Vat registered, should rental income be included in box 6 of the vat returns?