12/02/2004
DIY enthusiasts to benefit from free VAT advice
Thousands of 'do-it-yourself' homebuilders in Northern Ireland are set to benefit from free advice on VAT refunds at this year's 'Self-build, Extending and Renovating Homes' exhibition in Belfast.
Customs officers will be on hand at this year's event at the Kings Hall to advise those who are entitled to make a VAT refund claim under the 'DIY Builders and Converters Refund Scheme'.
Commenting on the three day exhibition, which is expected to attract 10,000 visitors, customs' head of VAT business Northern Ireland Perry Malone said: "During the course of this event, officers will be talking to visitors to the show and explaining how the VAT refund scheme operates. It's an ideal opportunity to chat to Customs officers about which construction and conversion projects the Refund Scheme applies to, what VAT you can reclaim and how and when to make a claim.
"Anyone building a new house within the UK, with planning permission in their own name, is entitled to a VAT refund on the building materials. We would encourage all 'do-it-yourself' homebuilders to contact us in the early stages of the development."
At present developers can recover, through their VAT return, the VAT on their costs that relate to zero-rated or standard-rated sales.
The Refund Scheme puts DIY builders and converters in a broadly similar position to a developer selling a zero-rated property, by refunding them the VAT on their main construction or conversion costs.
(MB)
Customs officers will be on hand at this year's event at the Kings Hall to advise those who are entitled to make a VAT refund claim under the 'DIY Builders and Converters Refund Scheme'.
Commenting on the three day exhibition, which is expected to attract 10,000 visitors, customs' head of VAT business Northern Ireland Perry Malone said: "During the course of this event, officers will be talking to visitors to the show and explaining how the VAT refund scheme operates. It's an ideal opportunity to chat to Customs officers about which construction and conversion projects the Refund Scheme applies to, what VAT you can reclaim and how and when to make a claim.
"Anyone building a new house within the UK, with planning permission in their own name, is entitled to a VAT refund on the building materials. We would encourage all 'do-it-yourself' homebuilders to contact us in the early stages of the development."
At present developers can recover, through their VAT return, the VAT on their costs that relate to zero-rated or standard-rated sales.
The Refund Scheme puts DIY builders and converters in a broadly similar position to a developer selling a zero-rated property, by refunding them the VAT on their main construction or conversion costs.
(MB)
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