290. Residential property.

The sale of an existing building (that is, not a new building) which is a dwelling or is used for a qualifying residential purpose or qualifying charitable purpose is generally exempt from value added tax (VAT)1. However, zero-rating may apply if the property:

  1.  

    (1)     has been empty for ten years or more and has just been renovated;

  2.  

    (2)     has just been converted from a non-residential building;

  3.  

    (3)     is a protected building and has undergone a substantial reconstruction; or

  4.  

    (4)     is a first grant of a major interest (that is, the freehold or a lease if over 21 years) in