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BTL property in LTD and VAT

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    BTL property in LTD and VAT

    Hi all,

    thinking about getting some properties as BTL (residential) in my current LTD.
    It is now VAT registered.
    What I gather is that if I rent the property out, the rent is not subject to VAT.
    So it is going to hurt to be VAT registered? Just to reclaim VAT on any future repairs, renovations, etc.
    Do I need to de-register due to the fact I am not offering any VAT-able products/services?

    #2
    Originally posted by gisp View Post
    Hi all,

    thinking about getting some properties as BTL (residential) in my current LTD.
    It is now VAT registered.
    What I gather is that if I rent the property out, the rent is not subject to VAT.
    So it is going to hurt to be VAT registered? Just to reclaim VAT on any future repairs, renovations, etc.
    Do I need to de-register due to the fact I am not offering any VAT-able products/services?
    Ask your accountant

    As he will point out how stupid that idea is and save me the effort.
    merely at clientco for the entertainment

    Comment


      #3
      My accountant doesnt deal with VAT. I do.

      Comment


        #4
        Originally posted by gisp View Post
        My accountant doesnt deal with VAT. I do.

        Who is your accountant?
        …Maybe we ain’t that young anymore

        Comment


          #5
          Originally posted by WTFH View Post


          Who is your accountant?
          You dont know them.
          How is this helpful and not trolling?

          Comment


            #6
            Originally posted by gisp View Post

            You dont know them.
            How is this helpful and not trolling?
            The issue is neither WTFH or myself believe you actually have one.

            You need to ask your accountant why your plans are completely and utterly insane - because they are so bad even I can't be bothered to point out all the flaws in them.
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by gisp View Post
              My accountant doesnt deal with VAT. I do.
              The issue isn't (exclusively) around VAT - it's around using your existing Ltd (assuming IT services SIC coded) to buy BTLs. What does your accountant think about that? Or do they not do basic company structure advice either?
              Last edited by Paralytic; 9 November 2021, 11:17.

              Comment


                #8
                The issue is also based on previous questions you've asked on here...
                https://forums.contractoruk.com/acco...-provider.html
                https://forums.contractoruk.com/acco...gular-vat.html
                https://forums.contractoruk.com/gene...pp-shares.html
                https://forums.contractoruk.com/acco...ple-sipps.html
                https://forums.contractoruk.com/umbr...sacrifice.html
                …Maybe we ain’t that young anymore

                Comment


                  #9
                  You say you are thinking.. How hard are you thinking. The general advice on here is it's better not to hold properties in the company but I guess this will depend on a few factors. Have you looked at your business plan in detail to make sure holding them in the company is a good idea first?
                  'CUK forum personality of 2011 - Winner - Yes really!!!!

                  Comment


                    #10
                    Originally posted by eek View Post

                    The issue is neither WTFH or myself believe you actually have one.

                    You need to ask your accountant why your plans are completely and utterly insane - because they are so bad even I can't be bothered to point out all the flaws in them.
                    This +1.
                    Public Service Posting by the BBC - Bloggs Bulls**t Corp.
                    Officially CUK certified - Thick as f**k.

                    Comment

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