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VAT Question on Rent

  • 23-03-2016 4:04pm
    #1
    Jonny303
    Registered Users, Registered Users 2 Posts: 634 ✭✭✭


    Hi,

    I have a couple of VAT questions regarding rent.

    Rent of a commercial premises: I have a number of commercial units, owned by my company which I now wish to rent out. These include showrooms, light industrial units and yard space. How does VAT apply on a case such as this.

    The second question relates to Self Storage containers. I have bought a number of these to rent out. I presume that as I am VAT registered any money will be subject to VAT?

    Would it be an option for me to purchase these out of the company and rent them out as an individual? Obviously I will take the hit on the VAT at purchase price but the long term it should be better. We're talking of a turnover of around 20,000pa so it shouldn't be exceeding any thresholds.

    Many thanks,

    J


Comments

  • #2
    OttoPilot
    Registered Users, Registered Users 2 Posts: 540 ✭✭✭OttoPilot


    Jonny303 wrote: »
    Hi,

    I have a couple of VAT questions regarding rent.

    Rent of a commercial premises: I have a number of commercial units, owned by my company which I now wish to rent out. These include showrooms, light industrial units and yard space. How does VAT apply on a case such as this.

    The second question relates to Self Storage containers. I have bought a number of these to rent out. I presume that as I am VAT registered any money will be subject to VAT?

    Would it be an option for me to purchase these out of the company and rent them out as an individual? Obviously I will take the hit on the VAT at purchase price but the long term it should be better. We're talking of a turnover of around 20,000pa so it shouldn't be exceeding any thresholds.

    Many thanks,

    J

    Sounds like a question for your tax advisor. Would you really trust something this large to a random poster on the internet?


  • #3
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    Your accountant is best placed to answer these queries as the VAT history of the property will dictate the treatment.

    The storage question is an one. Is it a trade or rent?


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