Just a quick fact this week! As the economic forecasts are downgraded around us this is a time to be thrifty, and even William and Kate are renovating their Kensington Palace apartment rather than moving to a newer more functional home Link to intrusive article on Will & Kate's personal life. So, you’re probably wondering if this is simply more convenient, or do Will and Kate know something that we don’t know?
And the answer is probably that the second. Unlike work on an ordinary home, an approved alteration of a protected building (for example listed building) is subject to 0% VAT, and this includes the building materials that they use. So where as you or I will probably end up paying 20% VAT on our loft extension, for older more historic dwellings the treatment is different.
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