VAt Refund on property purchase

J

jfkenny

Guest
I am new to property investment and so forgive me if my questions are stupid.

I have searched this forum for a thread on property VAT but found none.

Is claiming VAT refund on investment property (apartment) a good idea?

It seems like an interest free loan from the Revenue to be paid back over the duration of the renatal of the property.

Is there a balancing payment of VAT to be made on sale of the apt?

Are there any pitfalls I am not aware of.?

I know this is a very complex area that needs tax advice but does anybody have bad or good experience with this issue
 
It is good if you have the correct knowledge of the scheme and you maintain and retain proper records
 
Arch,
Thanks for the reply - I have some questions before I decide to enter into this arrangement though

Is there a time limit on the repayment of the VAT to revenue or do they wait until the property is sold? ( I know the VAt element of the monthly rental also has to be paid back regularly)?

Are there any down stream implications which might not be obvious up front?
 
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