Buying Commercial Property and paying VAT

Jamez26

Hi There,

Looking for some advice, I am going to be buying a commercial property which also has VAT payable on top of the sale price. I am buying the property to use as a storage/workshop area for myself and will not profit from its use as I do not plan to run a business from here.

I have done some reading and see that there may be an option for myself to set up as a business and get VAT registered which will allow me to legally claim back the VAT paid on the purchase price and for any repairs needed. I'm just wondering if this would be my best option, if there are any pitfalls with this and if there might be any other ways to avoid having to pay the VAT at purchase ? Or is paying it at purchase the best way ?

Thanks in advance for your time,
Kind Regards,
James

Pennywise

You can't register for VAT unless you are a trading business. Otherwise every man and his dog would register to reclaim VAT on their plumber's bills and weekly supermarket shop!