An Introduction to VAT on Construction & Development Projects
The VAT treatment of construction projects can be complex but this course will run through the different VAT rates and their application to construction and development projects.
It is important for architects, surveyors, contractors, property developers and advisors alike to appreciate the impact of VAT for a variety of different reasons.
Architects; you might be able to add value to your practice by being aware of the scope of the VAT reliefs and save your clients some money.
Surveyors: VAT may well affect your cost plans and forecasts.
Property developers; you need to know if your project can be charged at a lower rate of VAT so your profits aren't hit! Particularly important given that HMRC will not refund VAT that has been incorrectly charged to you
Contractors; do you want to avoid the wrangles with clients over the correct VAT rate to charge? Also if VAT relief is available, what do you need to be able to prove the lower VAT rate to HMRC should they come knocking at your door?
Advisors: you need to be able to advise your clients with confidence and certainty.
This webinar will be a plain English and practical insight into the rules including a checklist of items you need to look out for in your everyday work.
What You Will Learn
This webinar will cover the following:
- What work can be zero rated for VAT purposes? This will include residential, charitable, work for disabled use, 10 year rule and everything in between
- The application of the reduced rate to construction projects including change of use, change of dwellings and the empty home condition
- What is the scope of these VAT reliefs i.e. what do the reliefs apply to precisely?
- What proof is required to enable the contractor to charge the lower VAT rate