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Do
I have to pay VAT?
Any
long-standing company should be VAT registered as the
company's annual turnover will require it by law. At Cornerstone
we are a VAT registered company and we charge VAT at the
relevant rate.
Unless your project is for a registered charity or you
are building a new house you will be required to pay VAT.
If you are building a new house you can claim back the
VAT on materials and labour once the building is completed.
A building is generally said to be complete is when a
certificate of completion is issued by your local planning
authority.
Upon completion, you have 3 months to claim back the VAT
so make sure that you keep all of your receipts during
the project. You only have once chance to claim the VAT
back so make sure you get it right!. |
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