We are part way through a restoration project and the time has come for the next stage payment to be made. Our architect has just advised us that, as from 1st Jan 2006, IVA on restoration projects is now charged at 20% (not 10%, as before). He says that this is being discussed by the government and that it is possible that it will be reduced again to 10% and we might get a refund of any payments at 20% but this is by no means certain.
We are trying to get a better understanding of the situation from him. It may be that IVA is a standard 20% but each year certain things are given reductions and we are waiting for the government to announce the reductions for this year but at the moment we are not clear. Can anyone shed any light on this subject? If so we will be most grateful.:confused:
Please ignore the above post. After posting it (under the wrong Section I notice!!) I then went to check my emails only to find one sent this afternoon by my architect saying that the state has now reconfirmed IVA at 10% for 'our type of intervention'.
Please ignore the above post. After posting it (under the wrong Section I notice!!) I then went to check my emails only to find one sent this afternoon by my architect saying that the state has now reconfirmed IVA at 10% for 'our type of intervention'.
A good service from the architect on a Sunday!
:)