We should scrap VAT on renovations While there’s no VAT to pay on new builds, most renovations and extensions attract the full 20% rate. Carol Peett, director of West Wales Property Finders, suggests zero-rating such building work would have wide benefits. She says: “The current housing shortage could be alleviated … [Read more...]
No Measures to Plug VAT Inequality
There were calls ahead of yesterday’s Budget statement for the chancellor Philip Hammond to announce fresh measures to plug the ‘inequality’ in VAT between new builds (0%) and renovations (rated at 20%). Carol Peett, managing director of West Wales Property Finders, was among those seeking change and urged the … [Read more...]
Solving the UK housing crisis: more builders, less red tape and other ways to fix the property market
We should scrap VAT on renovations While there’s no VAT to pay on new builds, most renovations and extensions attract the full 20% rate. Carol Peett, director of West Wales Property Finders, suggests zero-rating such building work would have wide benefits. She says: “The current housing shortage could … [Read more...]
Budget 2017 wishlist: Expectations from the property sector
Carol Peett, managing director of West Wales Property Finders is calling for the Chancellor to address the inequality in VAT between new builds (0%) and renovations (rated at 20%) in his Spring Budget. She suggests a much fairer solution would be to bring it in line with the 5% VAT rate that is … [Read more...]
Property expert calls for VAT reform to shore up UK housing market
This week’s Budget statement will present the Chancellor Philip Hammond with a prime opportunity to address the inequality in VAT between new build homes, charged at 0%, and renovations, rated at 20%, according to Carol Peett, managing director of West Wales Property Finders. Peett suggests that a much fairer … [Read more...]
Call for Chancellor to Cut VAT on Property Renovations
In his Spring Budget the chancellor should address the inequality in VAT between new builds, which are zero rated, and renovations, which incur tax at 20%. Carol Peett, managing director of West Wales Property Finders, suggests a much fairer solution would be to bring renovations in line with the 5% VAT rate that is … [Read more...]
