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
imgtext

The following list, while not exhaustive, provides an overview of the meanings of commonly used terms that a business and / or its adviser may encounter when dealing with a land and property transaction:

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 ownerA party that has title to the land for their own benefit
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

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™
TAKE A FREE TRIAL NOW
Powered by Tolley+™
  • 29 Oct 2025 15:10

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

Popular Articles

Corporation Tax

Associated companies ― from 1 April 2023

Associated companies ― from 1 April 2023Implications of associated companiesFrom 1 April 2023, the rate of corporation tax that a company is subject to depends on the level of its augmented profits. The rate of tax is based on a comparison of the company’s augmented profits against the corporation

22 Mar 2021 10:21 | Produced by Tolley Read more Read more
Trusts and Inheritance Tax

Transfer of assets to beneficiaries ― legal, administration and tax issues

Transfer of assets to beneficiaries ― legal, administration and tax issuesThis guidance note outlines how assets are transferred to beneficiaries and the tax consequences that flow from the transfer. Whether a payment is income or capital is discussed in the Payments to trust beneficiaries guidance

14 Jul 2020 13:52 | Produced by Tolley Read more Read more
Corporation Tax

Taxation of loan relationships

Taxation of loan relationshipsThe vast majority of companies will have loan relationships and so will need to consider how they are taxed under the loan relationship rules. There are also specific provisions dealing with relevant non-lending relationships and other deemed loan relationships.

14 Jul 2020 13:48 | Produced by Tolley Read more Read more