Anti-avoidance ― listed schemes ― pre-1 January 2018

By Tolley
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The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:

  • Anti-avoidance ― listed schemes ― pre-1 January 2018
  • Listed schemes

This guidance note provides details of the listed schemes which need to be disclosed to HMRC This note should be read in conjunction with the Anti avoidance introduction Anti avoidance hallmark schemes and Anti avoidance analysis of relevant case law guidance notes Listed schemes This section provides an overview of the current listed schemes Please note that HMRC can amend this list if required to include additional schemes VATA 1994 Schedule 11A The Finance No 2 Act 2005 section 6 Appointed Day and Savings Provisions Order 2005 SI 2005 2010 The VAT Disclosure of Avoidance Schemes Designations Order 2004 SI 2004 1933 as amended by The VAT Disclosure of Avoidance Schemes Designations Amendment Order 2005 SI 2005 1724 The VAT Disclosure of Avoidance Schemes Regulations 2004 SI 2004 1929 as amended by The VAT Disclosure of Avoidance Schemes Amendment Regulations 2005 SI 2005 2009 De Voil V5 213 V2 210 V3 407 VAT Notice 700 8 Scheme 1 the first grant of a major interest in a building This scheme is intended to reduce the amount of irrecoverable VAT incurred in relation to enlarging extending repairing refurbishing and servicing buildings that are zero rated when they are sold by a developer The scheme has the following features a major interest in granted in respect of the building is made to a connected person at the zero rate of VAT see the Sale or grant of a long lease zero rating for newly constructed buildings and Sale or grant of a long lease zero rating for newly converted buildings guidance notes the following additional input has been recovered as it has been attributed to the zero rated grant input tax in respect of any service charges levied in respect of the building input tax that is connected to the extension enlargement maintenance refurbishment repair of the building However input tax will not be deducted on remedying any defects that were associated with the original construction Examples

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