VAT - HOW to pay less VAT if you are a property developer with Tej Gill property investor CA CTA

[@londondarren0072]

Interesting video. Can you confirm if the demo of an existing residential house and replacement of that with a row of new houses would be at the 0% VAT status? And does this affect capital gains tax (building materials, supplies etc)?

[@PropertyWithAndrew]

Great question. Tej and I will record this question for you as its not a 2 line answer

[@PropertyWithAndrew]

Ps love your handle 007

[@londondarren0072]

@@PropertyWithAndrew Excellent - look forward to watching

[@tejgill2562]

Hi Darren, we'll pick this up in an upcoming video. Stay tuned.

[@londondarren0072]

@@tejgill2562 Thanks Tej 👌

[@yogesh7784]

If a company own a residential property: can you register the company for VAT and then claim back VAT on expenses for the property? Thanks

[@PropertyWithAndrew]

Great question Yogesh To confirm is this a commercial property?

[@yogesh7784]

@@PropertyWithAndrew could be Commerical or home turned into flats

[@PropertyWithAndrew]

@@yogesh7784 great question We will do a video on this Complex answer. Eg resi if vacant 2 years before you buy it then some elements 5% some can be 0% but must do work before occupation and within 12 months of purchase

[@medhaneweldegabriel6926]

Great video! Simple explanations covering the key questions and key scenarios

[@yogesh7784]

Can you do a talk about common mistakes made in company tax returns pls. Thanks

[@PropertyWithAndrew]

@Yogesh that's a great idea. Might suggest people share there mistakes or issues too

[@geoffmorrow4795]

Thanks Tej and Andrew for a really great video. I am using Tej's company and can heartily recommend them for accountancy and tax advisory services, and Tej is a lovely guy 🙂 Maybe cover corporation tax, entreprenures relief and stamp duty in future videos?

[@PropertyWithAndrew]

That's great to here Geoff

[@PropertyWithAndrew]

Great ideas for future videos Geoff

[@yogesh7784]

Really helpful explanation. Thanks

[@PropertyWithAndrew]

Aw thanks @Yogesh you are the best

[@tejgill2562]

Glad you found it useful Yogesh

[@timjgordon]

A great video. It didn’t quite seem to cover anything like our situation of the conversion of a house to flats by extending the sq meterage too. Subject to planning, we (the wife & I), are about to convert our own 9 bed 5 reception house into 7 flats by extending circa 25% to 30% outwards and into the loft space. ATM we have contracted to a planning consultant (not invoiced us yet) and about to appoint surveyors and architects. FYI we also have 5 BTL, a holiday let and several other businesses as sources of income. One of our partnerships is VAT registered. Is it possible to get some or all of the work and professionals charge us the lower rate of 5% VAT on this project? We would also look at keeping some or all of them for our BTL portfolio, depending on how the figures and finance arrangements stack up nearer completion or at least sell one per year if finance etc permits, to minimise CGT by utilising both our annual allowance, if the current limits still exist then. Perhaps you can cover this topic at some point please especially as we have a VAT consideration pertaining to professional fees now. Thanks.

[@PropertyWithAndrew]

Hi Tim Great question We will record an answer for you shortly