VAT on property

VAT on property guidance:

This Practice Note is about the VAT issues that arise in commercial developments. It first considers a straightforward unproblematic scenario, and then looks at: •...

Practice Note

This Practice Note is about the VAT treatment of non-residential service charges. General position Service charges are typically payable to the landlord under a lease or...

Practice Note

This Practice Note is about the exclusions from the VAT exemption for property transactions, and other provisions that interact with them. The exclusions for parking and...

Practice Note

This Practice Note is about the scope of the VAT exemption for property transactions. In many cases the exemption is overridden by other provisions, and these are noted...

Practice Note

This Practice Note is about the disapplication of the VAT option to tax (see Practice Note: The option to tax land and buildings) for residential and some other property....

Practice Note

This Practice Note is about the disapplication of the VAT option to tax (see Practice Note: The option to tax land and buildings) under anti-avoidance rules. Why does...

Practice Note

FORTHCOMING CHANGES relating to insolvency and tax: Finance Bill 2019–20 introduces provisions where: • HMRC becomes a secondary preferential unsecured creditor (moving...

Practice Note

This Practice Note is about the VAT issues that arise in residential developments. It covers: • different types of development • the implications of granting short leases...

Practice Note

This Practice Note is about the VAT treatment of residential service charges. Service charges payable to landlords Service charges are often payable to the landlord under...

Practice Note

This Practice Note is about the option to tax land and buildings. It considers the person by whom the option is exercised, the scope of the option, the exercise and...

Practice Note

This Practice Note looks at VAT issues in a town centre regeneration scheme, by way of a case study. The scenario described below, based loosely on a real scheme,...

Practice Note

This Practice Note is about the VAT implications of barter arrangements involving land and buildings. Why does this matter? Barter transactions can create unanticipated...

Practice Note

This Practice Note is about VAT issues to consider on the assignment or termination of a lease. In this Practice Note, unless stated otherwise, termination means any form...

Practice Note

This Practice Note is about the VAT issues to consider on the grant of a lease or under an ongoing lease. These include: • whether VAT is chargeable • when it is...

Practice Note

1 VAT 1.1 Unless otherwise stated in this Agreement: 1.1.1 all references in this Agreement to the Consideration and any other amounts payable or to be borne by one or...

Precedents

Transfer of a going concern 1 The Seller and the Buyer intend that the sale and transfer of the Property in accordance with the terms of this Agreement will constitute...

Precedents

This Practice Note is about VAT issues to consider on the assignment or surrender of a lease. Must the seller account for VAT? VAT will be chargeable on an assignment or...

Practice Note

This Practice Note is about the VAT treatment of building work. Specifically, it looks at the types of building work that will qualify for VAT relief, in the form of...

Practice Note

What to consider On the grant of a lease, you will need to consider: • whether VAT is chargeable • when it might be chargeable • service charges and...

Practice Note

This Practice Note is about the VAT implications of overage payments. Why does this matter? Very broadly, VAT will be due on overage if the original sale giving rise to...

Practice Note

This Practice Note is about the VAT treatment of parking facilities. Why does this matter? Charges for parking are normally subject to VAT, but this extends to leases and...

Practice Note

This Practice Note is about the VAT treatment of storage facilities. Why does this matter? The provision of storage facilities became generally subject to VAT from 1...

Practice Note

FORTHCOMING CHANGE: HMRC published a call for evidence on 18 July 2019 on simplifying the rules on VAT partial exemption and the CGS. This considered various changes...

Practice Note

This Practice Note is about the VAT place of supply rules for property transactions and associated services. For information on the place of supply of other services, or...

Practice Note

This Practice Note is about the VAT reverse charge for building and construction work, which applies from 1 October 2020. The charge was originally intended to be...

Practice Note

This Practice Note is about the VAT time of supply rules for property transactions. For an explanation of the general VAT time of supply rules, see Practice Note: VAT...

Practice Note

This Practice Note is about the issues that arise on a transfer of a going concern involving land and buildings. A transfer of a going concern (TOGC) has two distinct...

Practice Note

This Practice Note is about the VAT treatment of partnerships, joint ventures and other entities in the context of property development and investment. It considers: •...

Practice Note

This Practice Note is about the zero-rating of VAT for developers selling or leasing dwellings that they have constructed. Why does zero-rating matter? If the zero-rating...

Practice Note

This Practice Note is about the VAT zero-rating for developers selling or leasing certain buildings, intended for use by charities, that they have constructed. These are...

Practice Note
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