My client, a small owner-managed company, purchased five-year-old freehold premises to trade from in June 2017. The total cost of the premises and refurbishment was 180K + VAT, which the company reclaimed in full in the 06/17 period, and the company has occupied it since for its engineering business. The business has always been fully taxable.
Unfortunately, the director/shareholder is very ill and has taken the decision to close the company and dispose of the property. Please, could you advise whether any VAT needs to be repaid as it was only claimed a short while ago?
