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  • Documents - VAT option to tax covering letter
    Option to tax letterRenting out land or buildings is usually exempt from VAT. This means you don't charge VAT to your tenants. The downside is that you might not be entitled to reclaim VAT on your property running expenses. By "opting to tax" the property VAT becomes payable on the rents you charge and the sale of the property. The advantage of opting to tax is that you will be allowed to claim VAT back on related purchases such as maintenance costs. VAT on propertyUnless you "opt to tax" a property (HMRC sometimes...
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