| Commentary

12.12 Taxation

| Commentary

12.12 Taxation

Apart from VAT1, the taxation legislation and the manuals and guidance produced by HM Revenue and Customs currently make no mention of commonhold. There is therefore no express written guidance as to whether the tax consequences of any transaction in commonhold units or in the common parts of commonhold land are different to any other land transaction. It is understood that HM Revenue and Customs would not seek to treat the transaction in commonhold land any differently from any other transaction in land. This is because the Commonhold and Leasehold Reform Act 2002 does not

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