Shaz talks you through a practical example about how to better understand VAT and capital allowances, and the benefits that can be achieved when converting from commercial to residential.
KEY TAKEAWAYS
When looking to buy a property it is wise to find out about the exact VAT situation. When you make the offer, make it clear that you want to convert from commercial to residential, and ask if they will accept a VAT 1614D.
Elements of a building that are subject to capital allowances are any part of the property that are not inherently provided by the structure itself.
BEST MOMENTS
''When you sell the property at some point in the future, you must charge VAT on the disposal'
'These capital allowances have different pools'
VALUABLE RESOURCES
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ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
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