Topic: Design and Build VAT implications
My client, a developer, bought plot of land (no VAT) and seek to:
1. sell half of the plots to purchasers rather than developing the houses first, each plot sold for say £100k
2. The other half, he builds holiday homes and sell for £200k.
Buyers of land may choose their own developer or choose my client as he thinks he will offer a competitive price as he is already on the site.
Planning permission requires property owners not to live in the property for at least one month, though some buyers plan to use the properties as their main residence.
What are the VAT and SDLT implications for both sets of buyers.