I have two questions
1/ I registered for VAT over a year ago for a new build on a site which I intended to use as an investment property. I know there have been some changes in relation to registering for VAT to reclaim VAT on investment properties. Will this affect me?
2/ There may now be a possibility that I will move into this house myself when it is finished. If I deregister for VAT I understand I must repay all the VAT I have reclaimed. I will have imported some of the materials from the EU and paid no VAT on these. What I'm wondering will this amount be also taken into account by the revenue when calculating what I need to repay?
1/ I registered for VAT over a year ago for a new build on a site which I intended to use as an investment property. I know there have been some changes in relation to registering for VAT to reclaim VAT on investment properties. Will this affect me?
2/ There may now be a possibility that I will move into this house myself when it is finished. If I deregister for VAT I understand I must repay all the VAT I have reclaimed. I will have imported some of the materials from the EU and paid no VAT on these. What I'm wondering will this amount be also taken into account by the revenue when calculating what I need to repay?