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VAT

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  • Graham Nabb
    this looks like a threat – might be worth supporting the petition.. Graham 07974 743766 New VAT charge for listed building alterations The recent budget
    Message 1 of 1 , Mar 30 1:19 AM
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      this looks like a threat – might be worth supporting the petition..
       
      Graham

      07974 743766
       
       
      New VAT charge for listed
      building alterations
      The recent budget
      announced that the
      government would
      be holding a consultation
      on charging VAT on “approved alterations” to listed
      buildings as part of a move to clear up anomalies
      in VAT legislation. Improvements to listed buildings,
      such installing toilets and heating, are currently zero rated.
      But the consultation paper proposes that the
      tax relief be abolished from 1st October this year.
      Repairs to listed buildings already attract VAT at 20%
      and the consultation document states that “current
      rules therefore give a perverse incentive for change as
      opposed to repair.”
      In addition the government will extend the existing grant
      scheme for VAT on repairs to places of worship to cover
      improvements. However, there is no mention of any
      increase to this fund to cover this additional demand.
      A major reason for the government wishing to close
      these loopholes is that disputes about exactly how the
      rules apply cause considerable administrative workload
      and legal costs for HM Revenue and Customs. Details
      of how to respond are on page 33 of the consultation
      document and the period of consultation closes on 4th
      May 2012.
      There is an e-petition created by the Dean of Wakefield,
      whose Cathedral’s scheme would be adversely affected.
      Do let us know if you have projects which might be
      jeopardised by this change.
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