VAT and DIY housebuilders
A person who buys a new home from a property developer does not have to pay VAT on it as the sale is zero-rated. However, a person who builds their own home does not benefit from the zero rating. The VAT DIY housebuilders scheme aims to level the playing field by allowing people who build their own houses to claim back VAT on building materials purchase…
Keep reading with a 7-day free trial
Subscribe to Accounting Journal to keep reading this post and get 7 days of free access to the full post archives.