If you are building your own house, then you can claim a VAT refund on most (but not all) of the building and fitting costs. Nicolson Accountancy specialise in working with those who build their own houses to help make sure that every eligible cost is claimed, and that the claim is lodged quickly and efficiently to give a speedy refund to the home-owners.
You have only three months from the date of the completion certificate to submit your claim.
Three months might seem like a long time, but with moving into a new house it goes very quickly.
Nicolson Accountancy need the following
- A copy of the final plans
- The original planning permission with all the conditions – even the standard ones
- A copy of the completion certificate
- All the invoices for the building work, fitting, furnishings and services provided
- Details of the bank account into which the refund will be paid
Nicolson Accountancy will do the rest for you, but please bring in the information as early as possible to allow us to draft and submit the claim in plenty of time.
How long does a VAT refund take?
A VAT Refund can be surprisingly quick. We anticipate that the funds should be with you in about 4 weeks, but this is dependent upon factors outwith our control.
HMRC will check the details of the claim, scrutinising every invoice and then providing us with details of any costs that they have disallowed. They will notify us of the final approved amount, returning all the papers to us; but by this time you should already have the funds in your account.
Whilst it is possible to appeal against any disallowed costs, in our experience it is very rarely that such a claim is successful, as the accuracy of HMRC is very high when applying this part of the law.
Glasgow: 0141 237 3878
Kilmarnock: 01563 578900
Stornoway: 01851 700362
Login to OpenSpace
Our clients say…
Thanks for your assistance this year – really appreciate the great service that we receive from you and your team.
Payroll client with huge Christmas sales Lanarkshire January 3, 2016
Recent blog posts
- CIS Refunds May 23, 2017
- Victory at a VAT Tribunal May 14, 2017
- Limited Cost Traders – FRS VAT implications for FRS April 21, 2017
- Cyber Security – keeping your data safe April 17, 2017
- Scottish Tax rates differ from the rest of the UK December 15, 2016
People make Glasgow: "I was really angry earlier but now I'm a bit calmer, I just can't believe someone would abandon their car like that, though the bottle of wine in the back seat might have something to do with it." twitter.com/glasgow_…
What did this mean for our clients? If you aren't already computerised, then it means a lot more work. Speak to us today to minimise the pain. twitter.com/hmrcgovu…
If you have ever had to live away from your main home, you may be liable to Capital Gains Tax when you sell your home. It's complex, but here is a brief outline of the law and how we can help you avoid any liability. nicolsonaccountancy.… via @NicolsonAccount
Due to the roads not being cleared or gritted, the Glasgow office is closed today. The Stornoway and Kilmarnock offices are open and can deal with all the issues on the same phone number: 0141 237 3878. pic.twitter.com/WyUl…