New Flats
Tax Planning and Financial

1 Thanks
17 Posts
10 years ago

We have got planning permission to build 4 flats above a commercial property. We have an asset manager to whom we have delegated the supervision and construction work. Materials will be purchased by us and we are finding labour contractors to do the work. We have credit facilities with the suppliers of materials. Suppliers are charging 20% VAT on the supplies made to us. This property is not VAT elect.

My question is, whether we can reclaim the input tax paid by us to the suppliers as this is new built? Your inputs are much appreciated.

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