The government’s 2012 budget announced changes to the VAT regulations concerning self-storage.
Up until now self-storage units have been treated in the same way as the rental of commercial property: exempt from VAT. Whereas the traditional containerised storage solutions offered by Bournes Removals and Storage, and as predominantly offered by Removals Companies as part of their range of services has always been required to charge its customers VAT.
The UK Government has now announced plans to change this and bring self-storage into line with other forms of storage from the 1st October 2012.
Whilst self-storage has in the past been an attractive option these changes may mean it is worth customers considering the containerised storage offered by companies like Bournes, an option that brings with it several benefits above self-stores:
• Collection and delivery services competitively priced in comparison to van hire and the time required to handle this yourself.
• Professional loading and packing reducing the risk of damage to goods whilst in transit and in storage.
• Improved security - restricted and controlled access to sites.
• Flexible space options – great for single or oversized items, only pay for the space you need.
• Unusual item storage – Bournes also provide storage for vehicles as well as specialised curtain storage where items can be hung to avoid creasing/damage.
• Cost effective short and long term solutions.
For more information on the changes to legislation and how this affects self-storage please visit http://www.hmrc.gov.uk/budget2012/vat-con-4801.pdf