What are the benefits of the VAT shelter?
Without the use of the VAT Shelter the VAT incurred by the Housing Association would relate to the VAT exempt supply of renting affordable housing and would be largely, if not wholly, irrecoverable. What are the typical savings? Typically the amount of VAT on LSVTs runs into millions of pounds. Examples of McGrigors’ services: McGrigors’ tax team has dealt extensively with VAT issues that affect Housing Associations including: • the recovery of over £4 million in VAT for a Housing Association from HM Revenue & Customs; • conducting the lead case in ongoing litigation in which HM Revenue & Customs have sought to impose a corporation tax charge following use of the VAT Shelters. Our teams experience of dealing with VAT issues for clients in the Affordable Housing sector enables us to provide practical, solution driven advice. We are happy to work with existing advisers on projects to ensure that you receive the very best advice and service possible. We would be pleased to set up a meetin
