Holiday homes - VAT refund scheme for DIY housebuilders
Date: 18th June, 2010 | Author: Jane Stacey | Comments: 1
Following a recent VAT tribunal decision, HMRC has now changed its policy regarding VAT on holiday homes for non business use.
The DIY housebuilders scheme allows private individuals to reclaim VAT paid on the costs of building materials for new homes and the cost of converting non residential buildings into homes.
HMRC now accept that this scheme also applies to the construction/conversion of holiday homes for private use.
Claims can be made for the last four years and rejected claims can be resubmitted.
RCB 29/2010 contains full details of the revised policy.
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Jane Stacey is a VAT adviser and a senior manager at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Jane you can call her on 01727 869141.
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