Commentary

BB/11C/03 VAT—building and construction: grants of a major interest by members of VAT groups

Part V16 Forms and other HMRC material

BB/11C/03 VAT—building and construction: grants of a major interest by members of VAT groups

BB/11C/03 VAT—building and construction: grants of a major interest by members of VAT groups

Business Brief, Issue 11. 25 July 2003

The first grant of a major interest in a new dwelling, communal residential building or charitable building is zero-rated. “Grant of a major interest” means a freehold sale or a long lease in a building. This Business Brief article clarifies Customs' policy in relation to grants of major interest in zero-rated buildings by VAT groups in the rare situation when a group member makes more than one grant of a major interest in a building, the first of which is

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