A to Z of land and buildings terminology

Copyright © 2026 LexisNexis
Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance

A to Z of land and buildings terminology

Copyright © 2026 LexisNexis
Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
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The table below provides brief definitions of terms that may be encountered in relation to supplies involving land or buildings:

TermDefinition
Alienation clauseClause restricting the tenant’s right to assign a lease or sublet a property
Beneficial occupationThe occupation of land to the benefit or advantage of the occupier
Beneficial ownerThe person entitled to the economic benefit of property, whose beneficial interest may be held separately from the legal title
ChargeAn interest in land which secures payment of a debt
ChattelsMoveable personal property
CompletionThe final step which leads to the transfer of ownership of a property. The purchaser receives the title documentation in exchange for payment of the purchase price
Completion moniesThe sum payable to the vendor to complete the purchase of the property
Completion statementA statement issued to the buyer showing details of the exact amount that must be paid to complete the purchase
Compulsory registrationWhere legally required in England

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  • 14 Oct 2026 13:05

Home/ Tolley Tax Guidance/ Value Added Tax / Navigating VAT on land and buildings

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