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Dear Alan, We have a Company who works as a Sub-Contractor on behalf of a local County Council. It carries out Construction, Plant Hire & Road Maintenance works. The Company is VAT Registered. The Company purchased a house in its own right in 2012 for €82,410. No VAT was claimed on acquisition. The Company now wishes to sell the House at Market Value of say €120,000 No work was carried out to the existing Property and no development has occurred. Please advise if this transaction liable to VAT? Does it matter for VAT purposes if Planning Permission for a second House on the same site can be secured? Thanking You Padraig Agnew

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Asked on 24 February 2020 1:15 pm