Listed Buildings, VAT and our SoMe journey Zaenia Rogers  www.thevatconsultancy.com
Introduction <ul><li>Who we are? </li></ul><ul><li>20 years  </li></ul><ul><li>Ex Big 4/HMRC </li></ul><ul><li>What we do?...
VAT Property  <ul><li>Largest part of our work  </li></ul><ul><ul><li>Listed property development  </li></ul></ul><ul><ul>...
The Issue   <ul><li>Consideration of supporting the call for the reduced rate (currently 5%) to apply on all property repa...
Why? <ul><li>VAT legislation has specific rules on listed properties that only support VAT relief for ‘major alterations’ ...
The Legal Perspective  <ul><li>VAT has specific rules on listed properties that only support VAT relief for ‘major alterat...
VAT & Listed Property  <ul><li>The VAT Consultancy would like to use this forum to consider and receive feedback on such i...
VAT & Social Media  <ul><li>Dissipate issues/new information to interested parties quicker </li></ul><ul><li>Lightened the...
www.thevatconsultancy.com [email_address] 01962 735350 @vatconsultancy
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be2HERITAGE - Listed Buildings VAT and our SoMe Journey

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be2HERITAGE - Listed Buildings VAT and our SoMe Journey

  1. 1. Listed Buildings, VAT and our SoMe journey Zaenia Rogers www.thevatconsultancy.com
  2. 2. Introduction <ul><li>Who we are? </li></ul><ul><li>20 years </li></ul><ul><li>Ex Big 4/HMRC </li></ul><ul><li>What we do? </li></ul><ul><li>Dedicated to VAT and Customs Duty </li></ul><ul><li>Work with professionals and clients </li></ul>
  3. 3. VAT Property <ul><li>Largest part of our work </li></ul><ul><ul><li>Listed property development </li></ul></ul><ul><ul><li>Conversions </li></ul></ul><ul><ul><li>Charitable properties </li></ul></ul><ul><ul><li>Commercial TOGCs </li></ul></ul><ul><ul><li>Etc </li></ul></ul><ul><li>Work with developers, sub-contractors, owners – </li></ul><ul><ul><li>Achieve the correct VAT position </li></ul></ul><ul><ul><li>Minimise VAT as a project cost </li></ul></ul>
  4. 4. The Issue <ul><li>Consideration of supporting the call for the reduced rate (currently 5%) to apply on all property repairs/at a minimum on listed properties </li></ul>
  5. 5. Why? <ul><li>VAT legislation has specific rules on listed properties that only support VAT relief for ‘major alterations’ – incentivising changes to our heritage rather than supporting protection of it </li></ul><ul><li>Green Issues – Carbon emissions from domestic property high, energy efficient 5% rate current rules are complex and specific </li></ul><ul><li>Thousands of homeowners unable to move could repair their property at competitive prices – either for resale or life quality </li></ul><ul><li>Construction Industry contacts tell of increased Black Market - </li></ul><ul><ul><li>Reduces work for reputable firms </li></ul></ul><ul><ul><li>Increases risk to our heritage as corners are cut </li></ul></ul><ul><ul><li>Increases tax losses for government </li></ul></ul>
  6. 6. The Legal Perspective <ul><li>VAT has specific rules on listed properties that only support VAT relief for ‘major alterations’ </li></ul><ul><li>The EU’s VAT Directive of 2006, Article 98, specifically enables countries to apply reduced rates, should they wish, to the “provision, construction, renovation and alteration of housing, as part of a social policy” (Annex III par 10). </li></ul><ul><li>Across the EU, several countries charge lower-rate VAT on all property repairs. Italy charges 10%, Poland 8%, Portugal 6% and Slovenia 8.5%. Even within the UK there is a precedent with the Isle of Man charging 5% instead of the standard rate. </li></ul>
  7. 7. VAT & Listed Property <ul><li>The VAT Consultancy would like to use this forum to consider and receive feedback on such issues as: </li></ul><ul><ul><li>Could a more favourable VAT context help safeguard the future of buildings that ought to be preserved or renovated? </li></ul></ul><ul><ul><li>Are skilled craftsmen going out of business because they are competing with the black market? </li></ul></ul><ul><ul><li>Is the quality of heritage repairs being sacrificed because some building repairers are having to cut corners risking some of the UK’s finest listed buildings? </li></ul></ul>
  8. 8. VAT & Social Media <ul><li>Dissipate issues/new information to interested parties quicker </li></ul><ul><li>Lightened the technical side of VAT, presenting it in a much more friendly manner </li></ul><ul><li>Potential access to a new generation of clients </li></ul><ul><li>“ Thought leadership” ability to begin debates & receive feedback and begin debates more freely than traditional forms of communication </li></ul>
  9. 9. www.thevatconsultancy.com [email_address] 01962 735350 @vatconsultancy

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