Cash or Receipts, castelo Construction, english speaking Builder, Portugal

Cash or Receipts

Cash or Receipts what will you do?

Paying cash from building work is not the perceived benefit that it was with less suppliers accepting cash builders are stuck with how they could use their earnings.

Portugal has had a very long and very active Black economy. The Portuguese government is trying to change this far too late to a shade of Grey and in fact since recent laws were passed in 2017 more and more companies are offering invoices when you buy goods and services. Just in case there was any confusion it’s also against the law to avoid tax payment.

Why is this important to you when you are having construction work carried out in Portugal. This will be one of your greatest expenses when living here. There is a temptation for people coming to a foreign country to avoid “additional expenses” if they can.

Obviously, any builder wants to put through his books as little as possible basically to avoid the payment of tax and Iva which in Portugal is 23%

Castelo Construction looks at this from a different angle. We always provide invoices for work carried out.

why is this important it’s important to you?

Simple

Because when the time is right to sell your property in the future whether refurbished or a new build you can claim your VAT Iva back from the tax man saving you so you 23%

Obviously no invoice no savings.

Many people who when down the cash route ended up complaining that they had missed out on the 23% saving when it’s too late.

Here’s a little money saving tip for free without you having to go down the Cash or Receipts route. If you are going to open a bank account in Portugal to buy your property and carry out building work in Portugal make sure that they have a branch in your home country. For instance, Banco Santander Totta has this arrangement.
Then all you have to do is open an account with them in the UK and carry out bank to bank transfers for FREE.

Talk to Kelvin about your construction project on 00351 927168247
Or email kelvin@casteloconstruction.com

Check out some of our projects on www.casteloconstruction.com

About Castelo Construction Lda

Castelo Construction Lda are builders in Central Portugal. We have 12 years’ experience of working with and delighting clients in Portugal. Tel 00351 927168247 or kelvin@casteloconstruction.com If you need an English speaking builder for renovation or new build work we will provide free estimates, fixed prices and carry out your work to a very high standard. Many of our clients are not in the country full time so rely on our regular photographic updates and written reports. They are always surprised when they make inspection visits. New Construction and Refurbishment of Portuguese Property It’s exciting for both our team and of course our clients to mark out on the earth the site of a new home. We will have been with them during the design process and have spoken to the architect many times so we will be comfortable with what we are about to do. For many clients, this stage is a little daunting as it’s hard to see without experience just where the house is going to be in relation to other things on the property. Once the foundations are dug out the house normally looks smaller than they thought, As the pillars and foundation wall start to go you get a much better idea of scale. You can see with your mind’s eye the location of the kitchen, bedrooms and so on. Once the walls are up and the first floor is in place the rooms start to looks smaller again (something to do with the light absorbing properties of the bricks) once the walls are plastered the rooms look a lot larger and it starts to feel more like the home our clients imagined building. As the build progresses we are involved with many specialist subcontractors and it is our job the get them on site at the right time so that the trades do not overlap and time is not wasted. Once the roof is on and tiled it is traditional in this area to have a dinner on site. Everyone who is involved in the build is invited to share a suckling pig dinner with local bread, oranges and of course wine. This is a great way for the clients to enjoy some local hospitality and meet the craftsmen who are building their new home. We also invite the near neighbors so that they get a chance to see what’s going on (when the house is at a very basic stage) and it gives our clients a relaxed opportunity to make their acquaintance. As we always accompany our clients to choose, kitchens, tiles, bathroom fittings or whatever they want. We can help with translation and of course negotiation! As the house is coming to completion we always have them professionally cleaned so that when we hand over the keys it feels more like a home than a building site. 2 months after the house is finished we are back to check for any small faults that may need attention and of course we are available to help and advise should that be needed. Central Portugal builders