When to register for vat when obtaining vat refund on investment property

R

ROSS

Registered User
Messages
185
Hi All

I am about to sign contracts for an investment property here in Ireland which wont be ready until Oct / Nov 06. However, my accountant is advising to vat register now in advance of signing the contracts as opposed to registering just before hand over.
The only snag is that I have to start paying vat on rent from another rental property I have which may be unnecessary. This could add up to €600+
Any comments please ?
 
why are you signing contracts on a property that is not complete? Do you mean you are handing in a deposit? If indeed you are buying a property, and getting keys before the door is hung on the hinges then maybe your accountant is correct. Seems unusual. The rule I believe is that you register for VAT in the same month that you purchase the property.
 
Yes, we are signing contracts and handing over 7k having already paid 3k deposit. total puchase price = 250k. Standard procedure I would have thought. It was just the timing of the vat registration I was querying.

thanks for your reply.
 
You must log in or register to reply here.
Back
Top