Vat relief on investment property

[bluemountain]

When will this change take effect and what conditions will apply?

It seems that it will remain possible to get VAT refund where contracts are entered into before the implementation date - is this correct?

Will it be necesary for the apartment be built and the sale closed before the implementation date to get the VAT refund?

 

[fester]

Heard from a friend that George Lee was speaking about this on the news the other night but can't find anything on-line (google etc).

Closing on an investent prop in March and had been planning to use this company (www.loweq.com) to claim the VAT back. No connection to them by the way, just saw their ad in one of the property mags.

As per O.P.'s mail - would anyone have comprehensive details on deadlines etc and also any general opinions on pro's & cons of claiming.

Personally, if the government are closing off the loophole that tells me I should be availing of it! Bit blinkered I know ....

 

[Luternau]

I did this and in my opinion its the best deal you can get-and it reduces your income for income tax purposes-double win!!
Lowe charge a packet for this and it is a doddle to do your self. Making bi-monthly returns is also a doddle. Takes a few minutes.
Not sure when the last date is for availing of this-Finance Act not into force to April. You have to registered before this date and it may not be possible to capitalise a property after this date. On the other hand it might apply only to contracts to buy that are signed after this date. I an not in the market anymore to buy RPI so not au fait!