Commentary

RCB/8/10 VAT—land and buildings – changes to the operation of the option to tax and updated definitions of housing associations

Part V16 Forms and other HMRC material

RCB/8/10 VAT—land and buildings – changes to the operation of the option to tax and updated definitions of housing associations

RCB/8/10 VAT—land and buildings – changes to the operation of the option to tax and updated definitions of housing associations

Revenue & Customs Brief, Issue 8. 10 March 2010

This Revenue and Customs Brief announces three changes to Sch 10 of VATA 1994 which deals with the liability of supplies of land and buildings and one change to Group 5 to Sch 8 of VATA 1994 which deals with the zero-rate for construction services. These changes are:

  1.  

    —     simplification of the operation of the option to tax

  2.  

    —     simplification of the six–month “cooling-off” period to revoke an option to tax, and

  3.  

    —     changes to the definition of a housing association.

These

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