HAVE YOU EVER OPTED TO TAX?
Non-essential shops are now open now, so you can buy furniture, TVs, clothes and lots more stuff that’s actually really essential – except in a pandemic.
But have you thought about buying your other half a non-essential building for their next birthday or Christmas?
Relationship counsellors say that this is the secret of a successful long-term union!
Instead of a dream holiday, or a car, why not buy them a factory or another commercial property?
Imagine their delight when you take them to an industrial estate and show them the surprise! There are few romantic gestures of a bigger scale!
But don’t forget to ‘opt to tax‘ if necessary.
If a building is sold with VAT on it then you need to ‘opt to tax’ to save paying the VAT on the acquisition, and any other future costs.
If you don’t opt to tax, it will cost you 20% more, and that might ruin the occasion.
It’s regularly forgotten – until the last minute.
Have you ever opted to tax?
Are you going to buy a factory as a present?
Will you remember that a factory is for life, not just for Xmas?
Want to find out more about how Opt to Tax works? Contact us for more details.
Here are some men, with big brains and big files, working out 20% VAT.
