Commentary

BB/3B/06 VAT—new version of form VAT 1614 “Option to tax land and buildings” notification form

Part V16 Forms and other HMRC material

BB/3B/06 VAT—new version of form VAT 1614 “Option to tax land and buildings” notification form

BB/3B/06 VAT—new version of form VAT 1614 “Option to tax land and buildings” notification form

Business Brief, Issue 3. 9 March 2006

This Business Brief announces a new version of form VAT 1614 for use by businesses notifying an option to tax (election to waive exemption) on land and buildings. This new form has been introduced to reduce the large number of supplementary questions that HMRC have to raise in response to notifications, and thereby minimising any delays.

Who is affected?

All businesses that make an option to tax.

Background

Businesses that opt to tax land and property are required to notify HMRC within 30 days of exercising that option. To do this, businesses can either use form VAT 1614, which can be downloaded from the HMRC web site (www.hmrc.gov.uk), or can supply the same information in another format (eg a letter) and, in either case, send to the Option to Tax

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial