1st July 2009, 04:49 PM
Quote:quote:Originally posted by Unitof1
I might be over joyed if I didn?t have to charge VAT and could claim all the input vat back as in the case of zero rated. In the case of the externally contracted lecturer VAT exempt being education, that you learnt today, you cant claim back any input vat but for those constructing new domestic residences they are zero rated and if they get a ?68000 excavation do I /don?t I charge/register VAT and claim back my input vats or do I get to not charge vat but claim back the inputs.
http://customs.hmrc.gov.uk/channelsPorta...3#P72_5874
Maybe archaeologists and their federations/institutions should lobby the powers that be, for archaeologists to be zero rated as an industry, I mean whats the difference between archaeology on a new dwelling site and an extention?
On the earlier thing, yeah sorry. The stuff about zero rating that you were discussing was posted whilst I was writing my bit and after writing it I couldn't bear to delete it!
I think the above link talks about 0% VAT for qualifying residential new build, not all. I don't know what the qualification is, but I take your point that, in those circumstances, you might get away with an arguement for zero rating on that job. But you'd still have to be VAT registered and do the paperwork.
Personally I think having to be an unpaid tax collector is a pain in the behind. I am also getting to the stage where I'm objecting to paying parts of next years (self assessed) tax bill 'up front', based on this years. There may be a WEENY difference between the two. I want what little money I have in MY bank account, not HMRCs. However, when I suggested (in a training course) that if I had paid too much up front HMRC could pay me interest when I got it back, I was greeted with a frosty silence......
So, telling myself :face-topic: - perhaps it is worth asking if VAT is chargeable on zero rated developments (whatever they are). If it turns out that this is something that hasn't been looked at and should be happening more often than it is, maybe we can ask people with access to financial advisors etc to look into it?