With the introduction of VAT on listed buildings on 1 October 2012 fast approaching, many owners are frantically trying to complete alteration and restoration work to their listed properties to save thousands of pounds and secure the property's future for generations to come.
On 1 October 2012, the government is lifting the exemption on VAT to listed buildings, which it terms an ‘anomaly’, and imposing VAT at 20 per cent to all alterations and restorations in a move which will cost owners of listed buildings thousands of pounds just to ensure their property does not fall into disrepair.
Source: propertytalk Live!.