Commentary

RCB/51/09 VAT—option to tax land and buildings—correction to previously printed material

Part V16 Forms and other HMRC material

RCB/51/09 VAT—option to tax land and buildings—correction to previously printed material

RCB/51/09 VAT—option to tax land and buildings—correction to previously printed material

Revenue & Customs Brief, Issue 51. 13 August 2009

This Revenue & Customs Brief (“R&C Brief”), announces a correction to the tertiary law as was published in VAT Information sheet 12/09 and Notice 742A “Opting to tax land and buildings” (Part V8) (June 2008 edition). In both cases Condition 2, “the 20 year condition” of Box G was incorrectly reproduced. VAT Information Sheet 12/09 and R&C Brief 44/09 have been withdrawn and are being replaced with VAT Information Sheet 14/09 (V16.954, Division V16.5) and this R&C Brief. A description of the changes made to Schedule 10 of VATA 1994 which came into effect on 1 August 2009 can be found in the attached Annex, see below.

Background

On 1 June 2008, Schedule 10 of VATA 1994 was replaced and at the same time, new tertiary legislation was introduced which was subsequently published in Notice 742A “Opting to tax land and buildings” (June 2008) (Part V8).

The new tertiary legislation in Box G of this notice, (paragraph 8.3.2), sets out the rules for revoking an option to tax without requiring the prior permission of the Commissioners. While the online version of Notice 742A contains the correct wording in Box G, the wording in the printed version is incorrect. The correct wording for condition 2, “the 20 year condition”, in Box G is:

Box G
2The 20 year condition
The taxpayer or a relevant associate connected to the taxpayer held a relevant

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