Monday, 5 November 2012

House Building Changes

A recent EU consultation document proposal to introduce the 20% VAT rate on new build homes would be a disaster for the fragile UK housing market.
Churchfields supplied by Pennine Stone
Thankfully, in response to the document a spokesman for the UK Treasury said: “The UK Government will not change the VAT zero-rating of new-build homes”.
Only about 130,000 homes were built across Britain last year – a historic low.  Any reduction in numbers would exacerbate the country’s housing crisis and damage the house building industry, and must be strongly resisted by the Government and the UK housing industry.

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