spike

Forum Replies Created

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • in reply to: Opting out of VAT when buying land #56237
    spike
    Member

    Thank you again. 
    I did realise being deliberately vague might be a problem and yes, of course would disclose everything to a consultant..
    I do have an accountant and trust thier advice as far as it goes but it’s one of those things, you don’t know what you don’t know till you know it, and with this particular transaction its a little bit out of most people’s experience and knowledge. 
    Thank you for info on expert I will certainly look for someone and happily pay for the right advice. Thanks again for taking the time to reply so fully
    .S.

    in reply to: Opting out of VAT when buying land #56235
    spike
    Member

    Thank you for your very detailed answer, we have read and reread all you mention, the more we read the less we understand, hence also asking about how to find a suitable specialist advisor. 

    The land as it is has a small derelict building that we will remove. Going forwards nothing will be built in its place, apart from fencing erected around the perimeter.
    The ongoing purpose would in normal circumstances be VAT exempt.
    I do have a registered company that could claim the VAT back, that could buy it and probably the way we will go if VAT is unavoidable.it would just have been preferable to own it personally but to finance it that way would mean personally taking money out of the company at 40%tax which seems counterintuitive to save 20% VAT
    Sorry to be vague about the specifics of the land but for several reasons I’m not keen to share too many details. 
    Thanks for speedy and comprehensive reply. 

Viewing 2 posts - 1 through 2 (of 2 total)