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Sam
Sam, Accountant
Category: Law
Satisfied Customers: 13863
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I want to buy a pub it's 325 plus vat also it has a. Cottage

Customer Question

I want to buy a pub it's 325 plus vat also it has a. Cottage arttached for 240 the pub has a flat upstairs. I want to buy it and turn it into a residential dwelling. But do I have to pay vat
Submitted: 1 year ago.
Category: Law
Customer: replied 1 year ago.
Is anyone looking at my question ?
Expert:  Sam replied 1 year ago.
Hi Thanks for your question which has only just appeared on the UK tax forum - so I do apologise for the delay. You can get the VAT reduced to NIL by filling in form VAT1614D but this must be given to the vendor before the deal is fixed (so long before exchange of contracts) This will then allow a VAT free sale Let me know if I can assist furtehr Thanks Sam
Customer: replied 1 year ago.
On what grounds is this form applicable ? The pub has a residential part to it
Expert:  Sam replied 1 year ago.
Hi Thanks for your response Its the factor that you have a commercial element of the purchase on which the vendor plans to charge you VAT on the commercial element of the sale (so perhaps 80-90% of the pub) and you plan to convert it all to residential Thats what the VAT1614D is designed for - to change that element of VAT charged to represent te commercial element of the sale - to VAT free on the basis you plan to convert the commercial part to residential - Its really that simple Thanks Sam
Customer: replied 1 year ago.
Can I ask u about business tax the pub has a rateable value of 12,000 this worries me as am I liable to pay business rates on empty part of the pub
Expert:  Sam replied 1 year ago.
Hi Thanks for your new question I am afraid as per Just Answer policy this needs to be listed as a new question - as a new topic from the VAT position - or I can send an additional question and answer additional services request (which will incur an additional fee I am afraid)Let em know how you would like to proceed, but it would be appreciated if you could rate me for the level of service I have provided with your original post. Thanks Sam
Customer: replied 1 year ago.
Ok thanks
Expert:  Sam replied 1 year ago.
Hi
Please could you rate me for the service I have provided as this ensures I am paid
Thanks
Sam