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TaxRobin
TaxRobin, Tax Consultant
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Experience:  International tax
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Hi, My limited company bought a freehold commercial property

Resolved Question:

Hi,
My limited company bought a freehold commercial property some 12 years ago, VAT was paid on the property.
At the time my company was registerd for VAT since then it has de-registerd.
I am now selling the property do I have to charge VAT?
Thanks
Submitted: 2 years ago.
Category: Tax
Expert:  TaxRobin replied 2 years ago.
Hello and thank you for allowing me to assist you.
In general, freehold commercial property more than 3 years old and residential property is exempt from VAT.
Sales of freehold or commercial land or a building or civil engineering work that in either case is less than three years old (from the date of completion) or is incomplete is a standard rate for VAT.
As this is more than 3 years old and you are not VAT registered you would not opt to charge VAT.
TaxRobin and other Tax Specialists are ready to help you
Customer: replied 2 years ago.

Hi


Thanks for the answer- great service!


regards


 


Tony

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