Do you know about a change in HMRC policy which could benefit your organisation?
HMRC recently agreed that housing associations may reclaim VAT previously charged to them by local authorities on Choice Based Lettings (CBL) participation fees. Such fees should properly be treated as outside the scope of VAT.
What should you do?
You should ensure that, from now on, such fees from local authorities are charged to you free of VAT.
There is also scope for you to claim VAT overpaid on these costs for the past four years. As the VAT on these costs will have been attributed to your exempt property rental activity, any VAT you are now able to recover could result in an absolute saving.
How can we help?
We have extensive experience in advising the social housing sector on VAT issues and can assist you in compiling, submitting and managing your claim with HMRC.
If this is of interest to you, please get in touch for a no obligation chat.