TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

DIY Housebuilders and Converters VAT Refund Scheme – Treatment of Holiday Homes

HMRC announced a change to the treatment of claims received by them under the provisions of the above scheme in respect of holiday homes.

Following a decision of the VAT Tribunal, HMRC now accept that the DIY Housebuilders and Converters scheme applies to the construction of new holiday homes and to the conversion of non-residential buildings into holiday homes. Any refund of VAT is subject to the conditions of the Scheme being met.

Details of how to claim and where to find the relevant application forms can be found on the HMRC website at http://www.hmrc.gov.uk/briefs/vat/ brief2910.htm