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.

07 October 2024

• VAT & Duty

This is the second blog in our VAT series, following an initial post on VAT compliance. Here, we explore when HMRC can issue VAT penalties, common compliance errors, and how penalties are calculated. Whether due to late registration, incorrect documentation, or misreported VAT, understanding these issues is key to avoiding costly penalties.

01 July 2024

• VAT & Duty

We are often asked by clients whether VAT should be applied to costs recharged to customers, and, if it should, what rate of VAT should be applied.