Commentary

RCB/36/09 VAT—the VAT treatment of deposits relating to sales of land on which dwellings are to be constructed

Part V16 Forms and other HMRC material

RCB/36/09 VAT—the VAT treatment of deposits relating to sales of land on which dwellings are to be constructed

RCB/36/09 VAT—the VAT treatment of deposits relating to sales of land on which dwellings are to be constructed

Revenue & Customs Brief, Issue 8. July 2009

This Revenue & Customs Brief clarifies HM Revenue and Customs' (HMRC) view on how deposits paid in relation to sales of land, and in particular sales by developers to registered social landlords (RSLs), should be treated.

Background

Where development land is sold to RSLs, it is normal for a deposit to be paid at the time of exchange of contracts when construction has not commenced and the land is bare land. In many cases this deposit will

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