Introduction to VAT for Housing Associations

Traditionally, it could be argued that VAT and housing associations are not the best of friends. This is primarily due to the complexity of VAT rules that housing associations are required both to understand and adhere to. Associations that receive exempt income are subject to VAT partial exemption rules. This means that VAT incurred on expenditure is usually blocked or restricted from recovery.

While some associations are aware that they receive exempt income and the impact this has on their VAT and financial position, some, however, are not and are surprised when they discover they cannot recover all of the VAT they incur and have additional VAT costs. VAT remains an ongoing issue for housing associations and, in most instances, it unfortunately results in an irrecoverable cost. Previously, stock transfer housing associations receiving transfers of local authority housing stock have been unable to recover VAT that was chargeable by the contractors appointed to carry out major repairs to the transferring properties.

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This would usually happen for two reasons: Named the VAT Shelter scheme, it works as follows: Speaking to a professional about VAT for housing associations is recommended to ensure you are complying with all necessary guidelines, and making the most of any exemptions. Contact us by calling , or fill out an online enquiry form and we will be in touch.

Please fill out this quick form and someone will get back to you as soon as possible. She is extremely knowledgeable, dependable, thorough and efficient.

I would recommend her personally to any business needing this kind of assistance. We have found them to be very thorough and professional in all that they do. They have looked after some very complicated tax issues for us, always meeting deadlines at short notice and pursuing successful claims. She is also willing to discuss matters on an informal basis and could not be more helpful.

I recommend her and her firm whole-heartedly. Get the vital information you need quickly and easily by watching one of our guidance videos - topics include VAT assessments and penalties, VAT for charities, and maximising VAT recovery. Advice on many new-build and refurbishment housing development projects, leading to significant savings for the clients in question. Negotiations with contractors leading to significant refunds of VAT charged in error on relevant development schemes. What is Golden Brick?

It is important to ensure all delegates have a solid grasp of what VAT is before they can fully appreciate the main areas applicable to housing associations. An introduction to the basic principles of VAT applicable to housing associations. This session will build on the foundations of the first and focus on aspects of VAT which specifically affect housing associations. How to understand the correct VAT treatment of land and property transactions.

The core activity of housing associations is covered by the VAT rules on land and property; in particular the parts covering residential accommodation, so this session is crucial in helping delegates understand the intricacies and potential pitfalls. Other common VAT issues affecting housing associations.

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It is important to cover other aspects of VAT, which are not land and property related, but which could have an impact. Partial exemption — a full explanation of the rules regarding how much VAT on expenditure can be reclaimed and guidance on how to improve recovery. This will cover the basic rules, the standard apportionment method and a detailed analysis of popular special methods, which could improve recovery of input tax. The capital goods scheme — this is closely related to partial exemption and often ignored or misunderstood.

A review of planning opportunities, not covered earlier in the course. Reference will be made to important Tribunal and Court case decision, which could impact on housing associations.