Reimbursement of VAT
A buy-to-let investment in a "Classified Tourist Residence" residence type allows the recovery of VAT: you only need cover the property price excluding tax although the asset value is expressed with all taxes included.
As an added advantage, the Pierre & Vacances-Center Parcs Group with pay the VAT amount up-front on behalf of the investor. In other words, you pay just the pre-tax price for a property valued at a price including tax.
(1) Reimbursement of VAT is immediate and subject to a 20 years utilisation.
THE RECOVERY OF VAT SINCE JANUARY 2014:
On the 1st January 2014, the rate of VAT for new properties was raised from 19.6% to 20%. The interim rate rose from 7% to 10% while the reduced rate has not moved and remains at 5.5%.
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