We recently acquired the RTM in a central london building of 106 flats which we administer under our newly registered RTM Co Ltd. Leases are 990 years
Although the RTM Co is currently non trading, it is expected to offer services and issue invoices in respect of for example Alterations and Building work approvals, (as it is specified and required under the 2002 CLR Act) or others such as subletting registration and supervision services to ensure lease compliance, and others that may be required by the building from time to time
I therefore wanted to ask (technically or legally ONLY please) whether an RTM Co can register for VAT and as such reclaim VAT by suppliers offering goods and services to the building
Hmrc covered the registration aspect by confirming that there is no minimum anticipated sales level requirement to register, however could not offer any further VAT advice
Likewise the man agent can not offer this level of opinionor advice
The point here is that we have major expected Expenditure coming up by way of Lift modernisation around £250k and A/C Plant renewal for another £200k plus various equipment replacements all totalling £500k in which case our vat bill will be £100k so the question is if the RTM Co reclaim it having registered as above; or why not technically (or legally if applicable)
Thank you for you knowledge and time