We are continuing to receive a number of calls on our helpline from property developers and their advisors seeking clarification of the VAT liability of construction or conversion costs, and requesting advice in relation to the recovery of VAT on costs relating to property development schemes.
The rules relating to such projects are complex and a developer will often suffer an unnecessary VAT cost in the event that advice is not sought. Furthermore, simple planning can often reduce the VAT cost of relevant projects.
It is therefore recommended that anyone commencing a property development project contacts our free helpline for a discussion in relation to the VAT issues that the development in question may face.
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