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Client purchased commercial building back in 2014 for €100k. At the time both parties jointly elected to tax so accounted for vat on reverse charge basis. Our client carried out refurbishment to the value of €75k. The property is now selling, does our client charge vat on same?

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Asked on 31 October 2019 7:52 am
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Assuming no transfer of business applies VAT should be charged to avoid clawback of VAT reclaimed. Alternatively if purchaser did not want to take on capital good they could negotiate around the sale price.
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Posted by (Questions: 2, Answers: 295)
Answered on 4 November 2019 1:09 pm