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bigduckontax, Accountant
Category: Tax
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If you pay vat on a commercial premises can you claim it back

Customer Question

If you pay vat on a commercial premises can you claim it back like any other vat payment and is there any way to avoid vat on a commercial premises as some seem to have vat and others don't?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. Sales of commercial premises are normally exempt from VAT, but some vendors can elect to charge it. This is all very well if the buyer is also registered for the tax, but those not so registered may jib at paying an extra 20% which might make the transaction not competitive! If you buy premises and VAT is charged it can certainly be reclaimed as input tax on your quarterly return in the usual way. Unless you elect to charge VAT on ultimate sale there is no requirement so to do as the transaction, as I explained, is normally exempt from the tax. I do hope that I have resolved your conundrum for you.