Building yourself a new home? Don’t miss out on a VAT refund. Chartered Accountant, Jenny Pring, briefly explains how it works.

If you’re building yourself a new home, converting a property into a home, building a non- profit communal residence, or building a property for a charity, you may be entitled to some or all of the VAT that you have paid over on materials and services, related to the build.

Don’t miss out on the opportunity to get a refund, as you only get 3 months from the date of completion certificate to apply!

To be eligible, the building project has to meet certain rules. Listed below are the key rules, but don’t be fooled, as there are some exceptions.

New builds must be separate and self-contained, the building can only be built for yourself or your family to live in or holiday in, and it cannot be used for business purposes (you will be pleased to know it is ok to have one room as a work from home office).

Conversions typically would have to have been a non-residential building, prior to the work commencing. However, if it is a residential building, and hasn’t been lived in for the last 10 years, then you’re in luck, as it will also be eligible.

VAT can be reclaimed on materials, in relation to the above, if it is anything that is incorporated into the building, that cannot be removed once the building is complete, without the use of tools, or causing damage to your beloved new property.

If you think this may apply to you, either now or in the future, feel free to get in touch, so that we can ensure your claim is completed correctly, and you don’t miss out on a penny.

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