How To Make a 12.5% Profit From the VAT Man

One of our clients was converting an old office building into flats and asked us whether there were any top tax tips we could give her.  She had done her research and was pretty clued up, but she nearly missed out on a big VAT saving.

Where you convert commercial property into a dwelling, or renovate a house etc, that's been empty for at least two years, a 5% VAT rate applies, e.g, if you paid standard VAT (17.5%) of £7,000 on materials you can get back £5,000.  Do this by asking your builder to buy the materials and pass the VAT saving on to you.

Further further information or assistance please contact us on 020 8971 4999

Don't Be Left Paying The Ex-Tenant's Electricity Bill

The company had been renting out some of its commercial property, but the tenant ended the lease early and failed to pay its last electricity bill.  The supplier is now looking to you for payment ........ is there anything the Directors can do?

Even though the supplier has no direct contract with the company, it can argue that a "deemed" one exists.  But it can't rely on this if the premises are "occupied".  So if a tenant vacates part-way through a lease, always tell the supplier your agreed end date as this will prevent it from being able to chase your company.

For further help or information please contact us on 020 8971 4999

Quinton Scott have recently been successful in selling the following properties:-

Woodside, SW19

A beautifully presented two bedroom ground floor period conversion garden flat in this sought after road.

Sold - £397,450  June 2010

Client Comment: Of the three estate agents we called in to provide us with a valuation, Cedric was the only one who gave us a professional 'comparative market analysis' with supporting documentation.  This was the deciding factor in giving Quinton Scott ' sole agency'.

Selhurst Close, Wimbledon SW19

A two bedroom purpose built apartment situated on the second floor of this desirable and well kept residential development opposite the wide open spaces of Wimbledon Common.

Sold - £297,500 June 2010

Emerson Court, Wimbledon Hill Road, SW19 

A two double bedroom refurbished apartment located on 'the slopes' of Wimbledon.

Sold - £345,000  June 2010

Nursery Road, Wimbledon SW19  

A two double bedroom apartment overlooking communal gardens within walking distance of Wimbledon Town and Village.

Sold - £ 425,000  June 2010

Worple Road, Wimbledon SW19

A unique and extremely spacious one-bedroom second floor apartment with a high specification.

Sold - £285,000  June 2010 

Cochrane Road, Wimbledon SW19

A three bedroom end of terrace Victorian house, situated in the popular Dundonald Park area of Wimbledon.

Sold - £512,500  June 2010

A two double bedroom third floor apartment in this town centre location.

Sold - £397,950  June 2010

We currently have numerous applicants on our database looking for similar properties. Should you be considering selling or renting your property either now or in the near future then please contact us for a free market appraisal.

CLARENCE STREET, KINGSTON UPON THAMES

Sold on a 999 Year lease on behalf of a property fund to London Church International who intend to use the premises as a place of worship and for community outreach. Achieved price £1m.