19/01/2021
It's been revealed that HM Treasury will not be considering a cut to the rate of VAT that applies to building refurbishment, repairs or renovations. This means that the current lower VAT rate of five per cent will not be cut to zero.
But never fear, VAT Bridge is here to help fund the cost of building supplies during the construction process. You as the developer can reclaim all VAT on your construction costs. There are no sales, as they are zero-rated, and you are always in a constant reclaim situation.
Our DF+ product allows you to borrow up to 80% of submitted reclaims and 80% of the VAT element of received purchase invoices.
You can read more about the outlook for VAT cuts in building refurbishments here: http://ow.ly/VGH450DcyOC
If you'd like to learn more about how VAT Bridge can help you, get in touch today on 0808 169 3150 or email [email protected].
HM Treasury will not be considering a cut to the rate of VAT that applies to building refurbishment, repairs or renovations.