VAT In The Construction Industry

VAT in the construction industry is a complex tax, fraught with challenging aspects which can cause huge issues for those who are unaware and create opportunities for those who are sufficiently informed.

VAT in the construction industry can be incredibly complex. Our VAT team have a great deal of experience in this area and are here to help. Builders are expected to know if their project is 0%, 5%, 20%, exempt or outside the scope. On top of this, you have to deal with partial exemption, an area that many VAT inspectors try to avoid but as a builder, you have a legal obligation to understand.

The earlier you involve us in a project, the less stress you will have. Our VAT lead, Michele Harris says:

“I have lost count of the number of projects that have been referred to me where tax efficiencies could have been substantial if I had been involved in the planning stage. Sometimes it only takes a few tweaks to make a 20% project become a zero-rated project, making the building company more competitive when competing for contracts.
It’s just as important on the reclaim side. We have clients who approach us because their VAT reclaim on a construction project is low. We analyse their trading structure, advising on amendments, checking plans and legislation to increase input tax recovery where possible.”

At Bracey’s, we will allocate a dedicated team member to your company for the life of your project. That team member will give you as much time and expertise as the venture warrants, giving you complete assurance that your development matters to them.

If your business is affected by issues surrounding VAT in the construction industry, give us a call and see if we can help your projects.

What our clients say

« Bracey’s have provided us with a whole host of advice – personal tax, PAYE, R&D claims, Corporation Tax, payroll & pensions. As with a lot of businesses, we have randomly been selected for a VAT enquiry from HMRC. This can be quite a daunting occasion for a small business but the team from Bracey’s attended our offices to offer HMRC any information they needed and they conducted themselves in a capable, unfazed manner «

Managing Director, Hertfordshire Technology Firm

« Bracey’s have dealt with a number of areas as part of my tax return including foreign exchange income, online sales, buy to let income, VAT registration, advice regarding companies house and everything else in between. Nothing has been too much trouble or too complicated. «

Gerard Sandford, LLP

« Bracey’s have been instrumental in streamlining my invoicing procedure, they are speedy with their responses, friendly and always extremely patient; which if you knew me, is really needed! Braceys have provided me with accounts/tax/invoicing and all the usual; but on top of this, advice on a whole manner of situations that arise in my business. «

Jim Erwood - Founder - Extra Time Management Ltd
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