Inherited a client....Ltd co. VAT registered and has been doing up some listed properties originally with a view to sale. Been claiming input VAT back on the basis that selling on would be a zero rated transaction. More recently has decided to hang onto them and has started to rent out. I realise the whole area is a potential minefield but what are my issues? Don't feel the need two write chapter and verse if the answer is too complicated. I have never had this crop up before. Done some research online but would like an opinion or two. Thanks a lot.