Finance And Costs
The planning and control of the finance and cost aspects of your project are of fundamental importance. Construction of your own property will probably be the biggest single financial commitment that you will ever undertake. Budgets need to be carefully worked out, and they should include a contingency reserve for the extras that inevitably arise even on the best planned projects.
Stamp Duty Land Tax
New thresholds introduced from 3 September 2008 mean that if you buy property where the purchase price is £175,000 or less you don't pay any SDLT at all.
Reclaiming The Vat
VAT costs are often a significant factor when deciding whether or not to undertake a self-build project. The size of the potential reclaim can be really significant and we recommend that you read the appropriate notices on the Customs and Excise web site to make sure you understand exactly what can and cannot be claimed, and to establish that your project will qualify.