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Is it worth my property company being registered for VAT?

Question Is it worth my property company being registered for VAT?  I would like  to be able to reclaim VAT I pay agents and when I buy furniture or have work done - can I do that if I have a company that trades and invests in property?

Arthur says

It depends on the supplies that the business is making. Except for the first sale of a new build residential property, which is zero rated, supplies of residential properties, both sales and rentals, are exempt as far as VAT is concerned.

Anyone making exempt supplies cannot claim back input VAT and therefore cannot register for VAT.

If you are dealing in commercial property, either within the first three years, or commercial property on which the owner has opted to VAT, then you can register for VAT because you are making standard rated supplies, and therefore can reclaim his input VAT.

Before opting to VAT, an owner should consider the matter carefully, because if his tenants or customers cannot reclaim their input VAT, his supplies will become much more expensive for them. 

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