In last week’s budget, chancellor George Osborne announced that VAT will be added to heritage works from October 2012. HM revenue & Customs are holding consultations until May this year on proposals to scrap tax relief on approved alterations to listed buildings which will close anomalies in the UK’s VAT system. It is foreseen that this announcement may speed up heritage works, as any work going ahead in 12 to 18 months might be brought forward, we could then see a drop in activity once the proposals have been brought in.

Leave a Reply