Irrecoverable VAT on Property Agent’s Fees
Our client hired a property agent to sell a number of plots of land, and was facing irrecoverable VAT on the fees paid to the agent. They contacted us to find a way to recover the money, and to ensure any fees or charges they paid were legitimate.
Our VAT consultants immediately worked on putting a structure in place that gave the agent an equitable interest in the property, and allowed the client to avoid any misunderstandings. This meant it was possible for the agent to be paid outside the scope of VAT. With our help, the client sustained a significant saving when selling their land plots.
VAT on property services can be a complicated area; it is advisable to review what VAT property agents are entitled to early in the deal so that you are not surprised by any hidden expenses and risks further down the line.
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