Insights

12 December 2024

• Construction & Property
• VAT & Duty

A key consideration of development budgets is the VAT incurred on the costs involved. This can take the form of a cashflow cost for “End-Users” of the buildings, i.e., paying VAT on the charges raised by the contractors and then recovering this via VAT returns. Or the VAT could represent an absolute cost if it is not recoverable in the hands of the developer. It is crucial, therefore, that VAT reliefs which apply to certain elements of construction works are applied, where available. Here we summarise the two key VAT reliefs, and how they apply.

30 May 2024

• Construction & Property
• VAT & Duty

Some of the highest value transactions that businesses incur are often related to the acquisition or disposal of commercial property.

21 February 2023

• Construction & Property
• Corporate Tax

If you’re due to submit an Annual Tax on Enveloped Dwellings (ATED) return, then now is the time to speak to your trusted business adviser at Johnston Carmichael. ATED is a forward-looking tax, which you may need to submit a return for, even if there is no tax to pay. 2023/24 ATED returns are due to HMRC by 30 April 2023 and in line with HMRC’s five-year rebasing policy, this is the first period to use a 1 April 2022 valuation date.