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VAT for barn convertors – Update March 2009

Category: Essential information March 8th, 2009 by mbc

It’s been a while since a VAT update so I thought I’d review the current position, especially in view of the pre-Christmas credit-crunch fuelled reduction in the standard rate of VAT from 17.5% to 15%.

My own VAT reclaim will be due soon – by early Summer at the latest, so I thought I’d review the rates in-case anything had changed. I’m pleased to report (from the point of view of change being likely to cause more work and / or hassle) that the VAT reduction does not effect conversions and the 5% rate remains as it was…

Only standard-rated sales are affected. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions.

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